The Federation of Tamil Nadu Flat and Housing Promoters’ Association has urged the Centre to put in place a price control mechanism for cement and steel.
The housing sector has been completely neglected in the Union Budget and the rise in prices of cement and steel has added to the burden of the industry. The middle class segment was already feeling the pinch owing to the rise in interest rates on home loans. The government should take measures to encourage the housing sector, the Vice-President of the federation M.Rajalingam said addressing a Press conference here on Friday.
The federation appealed to the Tamil Nadu government to notify the draft development control rules framed for all districts in the State immediately.
Provisions of the Nagarpalika Act should be implemented to decentralise powers to local bodies for granting approvals. Builders were faced with long delays in getting approvals for their projects from Chennai. The Act has been implemented in five States in the country, he said.