Relook at revised market value rates, Builders Federation urges Telangana
Hyderabad: The Telangana Builders Federation has appealed to the State government to take a relook at the revised market value rates along with stamp duty and NALA tax. The federation stated that the present revision of market value that came into effect from February 1 is a big blow to the construction and real-estate industry. […]
Hyderabad: The Telangana Builders Federation has appealed to the State government to take a relook at the revised market value rates along with stamp duty and NALA tax. The federation stated that the present revision of market value that came into effect from February 1 is a big blow to the construction and real-estate industry.
According to the federation, the industry is already reeling under high cost of construction material which has gone by 35 per cent. “The revision will impact all segments of the sector and if a buyer wants to buy a property worth Rs 1 crore then they will have to pay anywhere between Rs 10 lakh to Rs 12 lakh as other costs,” says C Prabhakar Rao, president, Telangana Builders Federation.
Other members also explained that the revised rates will impact the buying capacity of budget property buyers as the cost of buying property has increased now. “Affordable housing segment will be hit the most,” says C Srinivas, president, Pragathi Nagar Builders Association.
Also Read: Telangana revises property market values
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