Credai seeks cut in GST on building raw materials
The Hindu
‘Housing prices could rise by 10-15%’
Realtors’ apex body Credai on Tuesday expressed concern over an increase in the rates of cement and steel during the past one year and said housing prices could rise 10-15% if the prices of construction raw materials do not fall.
The industry body demanded that the government take measures to control the prices and suggested reduction in GST for construction raw materials. Credai pointed out that the prices of construction raw materials have been increasing consistently since January 2020.
Moreover, the association said the the delays in construction caused by lockdowns and the shortage of labour resulted in a direct increase in construction cost anywhere between 10-15% in the past 18 months.
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