Realty sector decides to protest decision deficit

A decision has been taken by Mumbai’s realty sector to protest deficit and policy paralysis in the central government and agencies. Large number of real estate organizations like Maharashtra Chamber of Housing Industry (MCHI) and Confederation of Real Estate Developer Association of India (CREDAI) has come up together and decided to go on token strike on May 3 in order to protest the lack of policy continuation. On April 26, the Architects, Town Planners and practicing engineers will give statement on their participation in the proposed strike. In Mumbai during January-March 2012 there has been 14.8 per cent decline in the registration of property. On the other hand there has been a surge of 11.72 per cent in leave and license agreement. The token strike timing is crucial as the auto unions have decided to go on indefinite strike for revision of tariff. The president of Maharashtra Chamber of Housing Industry in an interview said that there are certain issues that are flagging with the civic and government authorities but there has not been any kind of improvement. The committee appointed by state government instead of examining structural stability keeps on discussing issues that are beyond jurisdiction. The committee takes along time to give its approval.