Delay In Sanctioning Projects: Real Estate Developers Plan Strike

Developers in pan India may go on strike in October (2012) if the central government does not listen to their demands. The chairman of the Mangalore chapter of  CREDAI (Confederation of Real Estate Developers’ Association of India), Mr. P M A Razak, said.

Mr. Razak said, ‘’We want the central government to resolve issues related to delay in sanctioning of projects, and to control the increase in price of cement & steel in India. There has been an unnecessary delay of  2 to 3 years in the sanctioning of most projects in the country. In contrast, projects are sanctioned within a few days in many developing countries. Delays in sanctioning would lead to the cost escalation of projects. About 45% of cost escalations were on account of delays in sanctioning. Government should set up a regulatory authority to control the price of these resources like cement & steel”

Mr. P M A Razak

Mr. Razak also said, “The CREDAI would approach the Prime Minister in June, (2012) seeking his intervention to solve various problems of the construction industry in the country.

CREDAI has tentatively decided to go on strike in October, if their demands are not met”

CREDAI - National Secretariat
703, Ansal Bhawan,
16, Kasturba Gandhi Marg, New Delhi- 110 001.
Tel: (011) 43126262/ 43126200  Fax: +91 11 43126211
Email: info@credai.org

Share: