Industry status

As Input Costs Rise, State’s Real Estate Sector Demands Industry Status | Jaipur News

JAIPUR: For the second year, soaring prices for steel, cement, aluminum, plumbing, ceramics, electricity and plywood have sharply increased the cost of construction for builders real estate. Senior officials from property developers body Credai-Rajasthan have said that it will become unaffordable if the government does not reduce taxes and charges on various services.
Speaking on the sidelines of the annual exhibition of the Confederation of Real Estate Developers Associations of India (Credai-Rajasthan), the chairman of the body, Dhirendra Madan, said: “We request the government to grant us the industry status. This will reduce costs for us, which will ultimately help us make homes affordable for ordinary people. »
Industry Minister Shakuntala Rawat, who was also present at the opening ceremony of the expo, said she would speak to leaders at the highest level to offer industry status to the sector. Recently, the state government notified the budget proposal granting industry status to the tourism sector. Hotels that previously paid electricity rates at commercial rates, which are the highest of any category, will pay lower industrial rates.
Madan said the industry pays Rs 18 a unit of electricity for a temporary connection which is used for the construction of housing projects. “The projects take 4-5 years to complete and we are forced to pay Rs 18 per unit for such an extended period. Also, Rajasthan has one of the highest stamp duties. With the status of the industry, there will be some relief that can be passed on to homebuyers. On the supply and demand situation, Credai-Rajasthan Secretary Rajendra Singh Pachar said buyers are coming into the market and the outlook remains positive.
After a two-year gap caused by the Corona pandemic, the exhibition taking place this year, more than 50 developers present about 450 housing projects, including agrotourism units, a new concept in the industry.