Builders to oppose new legislation by state govt

Guwahati, Jul 21 (UNI) The builder community of Asom have opposed the new legislation brought in by the state government to curb the mushrooming of apartments in the state.

Addressing mediapersons today here, Asom Real Estate&Infrastructure Developers Association (AREIDA) President P K Sharma said the provisions of the new Apartment Bill, tabled in the ongoing assembly session, would leave local entrepreneurs out of business and put the customers into inconvenience.

He also said that AREIDA had been lobbying for a Bill to do a legitimate business since 2003.

However, he opposed the imposition of stamp duty for buyers at 22.5 per cent while it is five per cent in rest of the country.

He further added that the security deposit had been higher and the punitive action for minor deviation was stringent.

The builder community has always been blamed for violating laws and disregarding the social conditions.

According to the government, the Bill has been brought in to curb them.

The builders, however, said that with the present format of the apartment, the real estate business would be affected as the cost would escalate and demand-supply gap of the residential apartments would increase.

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