Non-availability of sand, lack of guidelines on usage of M-Sand as an alternative, and steep hike in registration charges have resulted in the construction industry coming to a halt, forcing the stakeholders to take to the streets on July 6.
The Coimbatore District Joint Action Committee of Construction Related Association will take out a protest march from Women’s Polytechnic to the Collectorate for presenting a petition on various issues on Thursday.
The Joint Action Committee comprises Builders Association of India (BAI); Coimbatore Civil Engineers Association; Association of Consulting Civil Engineers; Coimbatore Builders and Contractors Association; Indian Institute of Architects; Confederation of Real Estate Developers Association of India (CREDAI); Coimbatore Corporation Contractors Association; Licensed Building Surveyors; Federation of Trade Association Coimbatore; Institution of Valuers Association Coimbatore, and Coimbatore District Sand Lorry Owners Association.
Based on a representation, the Chief Minister reduced the guideline value as it proved to be more than the market value earlier. Increase in registration charges from 1 % to 4 % in addition to 7 % stamp duty is proving to be a deterrent for the industry. Tamil Nadu is levying 7 % stamp duty and 4 % registration charges making it 11 %, while it was only 5 % in Gujarat and Maharastra and 7 % in our neighbouring States. This will hamper construction activity and will push behind the development of the construction sector in total. Entire construction activities by private promoters have come to a halt and more than 50 lakh workers have lost jobs.
The JAC called for opening of more number of quarries and make available the required quality of sand to check the price rise, besides revisiting the highest rate of 11 % stamp duty and registration charges.