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CREDAI demands 50pc cut in vacant land tax

CREDAI-demands-50pc-cut-in-vacant-land-tax

Representatives of the CREDAI-AP on Wednesday asked Municipal Administration Minister Botsa Satyanarayana to issue orders cutting vacant land tax by at least 50 percent. Pointing out that the 100 percent tax is levied when construction is taken up on vacant land, representatives of the CREDAI-AP told the Minister that this was against government norms when they met him at his residence in Vijayawada.

CREDAI president P Srinivas and secretary K Subhash Chandra Bose pointed out that as per the government orders, 50 percent tax shall be levied on vacant land, but this was not being followed and 100 percent tax was being collected. They said that due to the Corona pandemic, construction activity has come to a halt, leaving the realty sector in the doldrums.

They appealed to the Minister to extend the construction plan approval by one year and decrease the setback for multi-storeyed buildings. Stating further, the representatives of CREDAI-AP representatives said that builders are facing many problems related to TDR bonds and all of them need to be addressed. The Minister assured them that he would bring their demands to the notice of the Chief Minister.

Among those who met the minister were CREDAI AP Vice President Y.V. Ramanarao, P. Rajasekhara Rao, Chapter Treasurer Dasari Rambabu, Public Relations and Media Affairs RV Swamy, Skill Development Chairman G.S.R. Mohan Rao, CREDAI Advisor Alla Shivareddy, and also CREDAI representatives from 13 districts.

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