Cut development charges, demands realtors’ body


Amritsar, February 4

President of the Amritsar chapter of the Confederation of Real Estate Developers Association of India (CREDAI) Krishan Kumar Sharma has submitted a memorandum to the government through the Amritsar Development Authority (ADA) seeking relaxation in extremely high charges under different heads which are escalating land prices in privately developed colonies.

A delegation of the CREDAI met Rajat Oberoi, Additional Chief Administrator of the Amritsar Development Authority, with their demands.

The memorandum sought reduction in 8.5 per cent compounded interest being charged on the outstanding dues of the residential projects. They also sought reduction in the annual renewal fee of licence from Rs 10,000 per acre to Rs 1,000 per acre.