Conference on Real Estate Dvpt in AP: ASSOCHAM

By Staff
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Google Oneindia News

Hyderabad, Jun 26: Associated Chambers of Commerce of Industry and India (ASSOCHAM) and Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) would jointly organise a conference on 'Real Estate Development in Andhra Pradesh-Issues and Opportunities' here tomorrow.

Captains of real estate would propose a strategy to the AP Government for repeal of Urban Land (Ceiling and Regulation) Act 1976 and Rent Control Act to make the state attractive and competitive, vis-a-vis other states in the Southern Region.

The ASSOCHAM spokesman said though it was widely reported that the State Government had decided to scrap the AP Rent Control Act to comply with requirements of World Bank and Jawaharlal Nehru Urban Renewal Mission (JNURM) the State Government took a retrogade step - instead of scrapping the Act, it increased exemption limit from Rs 1000 per month to Rs 3500 per month, opening the floodgates for fresh wave of litigation betweeen landlords and tenants.

UNI

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