BAI- Builders Association of India || Press Meet to create awareness on issues affecting the industry
Chennai, Jan 9th, 2021: Builders Association of India (BAI) is an apex all India body of Engineering Construction Contractors and Real Estate companies founded in 1941, with more than 100000 business entities as members through its 180 plus Centres (Branches) throughout the country.
Construction is one of the most important economic activities contributing maximum GDP growth of our nation and mass employment generation next to Agriculture, affecting Infrastructure Development like bridges, National Highways, Railways, Harbour and Airport Development works of the country.
Reduction of stamp duty and Registration charges:
At Present the Construction Industry is not moving up and buyers have postponed their plan to buy properties as they are facing extra ordinary financial implications due to the Corona epidemic effects. We requested the Government to reduce the stamp duty and Registration charges as the stamp duty in our state is the highest in comparison to all other States and it is a huge burden to the buyers who has to pay 11% stamp duty and registration charges. Recently, the Government of Maharashtra and Karnataka reduced stamp duty and registration charges drastically for all properties from 5% to 3% in a bid to boost the realty sector. We request the Government to reduce the stamp duty & registration charges to maximum 4% similar to Maharashtra and Karnataka.
Payment of pending bills:
Pending bills of contractors with various Central / State Government Departments are not cleared for more than 6 months, which may be released immediately and avoid contractors financial burdens.
Electricity Board:
In the Electricity Board day by day releasing New Government notifications compelling for every house to pay Rupees Five lakhs for new Electricity Connection thus making the entire Construction Industry and Consumers to suffer the worst situation. Hence we request to withdraw the Government notification immediately and save the Construction Industry and the Consumers at large.
R. Prakash, State Chairman
****
