Builders association is planning for a strike in October
The Confederation of Real Estate Developers’ Association of India (CREDAI) has announced that the builders associations in India may go on a strike in October.
The builders association in India wants the Government to resolve issues related to delay in sanctioning of projects in India, and to control the ever increasing price of cement and steel. The builders feel that the time taken for sanctioning of most projects in the country is unnecessary. As of now it takes two to three years to clear any project proposal.
The delay in sanctioning any project leads to the cost escalation of projects. Most of the time costs of the projects are increased by 45 percent because of the delay.
The CREDAI will approach to the Prime Minister of India in June, seeking his intervention to solve various problems of the construction industry in the country. If the demands will not be accepted by the government then the builders association will go on strike in October.
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Source: The Hindu Businessline
builders associations in India, cost escalation of projects, costs of projects, CREDAI, projects in India, Strike
