
Telangana Builders Federation seeks deferment of market rate hike
The Hindu
‘Revision should be done after justifiable and transparent process’
Telangana Builders Federation, a body of seven associations i.e., Greater City Builders, East Zone Builders Association, Kukatpally Builders Association, Uppal Builders Association, Pragathi Nagar Builders Association, Greater West City Builders Association, South Zone Builders Association, has urged the government to defer the revision of market values for “some time” on Thursday.
TBF president C Prabhakara Rao and team told a press conferencethat the latest revision of market values is a “big blow” to construction and real-estate industry considering that the previous revision was done in July last year only.
“Registration charges already rose by 25% with stamp duty hikes last year while value of agricultural lands and other properties increased by 30%-100%. NALA tax was increased by 50% in GHMC limits and 67% in other areas recently,” they pointed out.