Real estate developers, builders and other construction workers in the state observed a “working holiday” on Saturday to protest against rising commodity prices.
All Associations of AP Chapter of Confederation of Indian Real Estate Developers (CREDAI), National Real Estate Development Council (NAREDCO), AP Chamber of Commerce (APCC), Builders Association of India (BAI), ‘Association of architects, licensed technicians people and AP Building Contractors Association gathered to observe the ‘working holiday’.
At a press conference here on Saturday, CREDAI AP Vice President YV Ramana Rao called on state and central governments to step in and control rising building material prices.
He said prices for steel, cement, electrical items, paint, plumbing and sanitaryware, hardware and the like had risen dramatically, and rising gasoline prices and diesel has further contributed to the rising cost of materials. He said some of the material costs had increased by up to 50% and the burden of that had to be passed on to buyers.
President of CREDAI Vijayawada K. Ramesh Ankineedy, Secretary General V. Subba Rao, NAREDCO, President of Vijayawada V. Vamsi Krishna, National Vice President of BAI V. Venkateswara Rao, BAI, President of PA B. Raghava Rao, Secretary APCC General B. Rajasekhar and others were present.