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Today Date : Monday, June 24, 2024

Proposed hike in land guideline  value will cripple construction sector at Erode

Proposed hike in land guideline value will cripple construction sector at Erode

Erode district land brokers and agents welfare association functionaries led by its president Selvamani sent post cards from the Erode head post office to 234 MLAs in the state urging them to press the government not to hike the land guideline value upto 70 percent as it would cripple the entire construction sector. 
They said that the previous AIADMK rule proposed to hike the guideline value by 32 percent and withdrew it immediately. 
But, now, the government proposed to hike the guideline value by 70 percent.
When it hiked the guideline value on its own nearly 1 year back, the HC rejected it and advised that after hearing the public views, any decision could be taken. 
So, now, the officials met a few persons for name sake in some areas and videographed it for showing it in the HC. 
On that basis, it proposed to hike the guideline value up-to 70  percent. 
For example, if the guideline value is around Rs 700 per square ft, the market value is Rs 1500. But, now, Rs 700 will go up-to Rs 1200.
It would lead to steep hike in market value of land upto Rs 3000 per square ft. 
How can middle class people could bear such high cost. Above all, the guideline value is hiked steeply, the registration fee and stamp duty would also rise costly. 
The people should show the source of income for buying the land and registration cost to the IT department if the land cost is above Rs 10 lakh in the registration department which could automatically inform the IT department. 
Then, how the middle class families who want to spend their hard earned money to buy lands, would invest on lands after remitting IT for the amount. 
Similarly, construction of apartments, houses,  buildings would be hit badly, affecting the job opportunity of lakhs of construction workers and workers of production units of construction materials and other accessories. 
So, the government should reconsider its decision, they pleaded. 
The association functionaries Sakthivel, Vaidehi Balasundaram, Murugesan, Parves, SM Senthil, Rajavel, Madhu, Senthil, Saravanan and many others attended the event.