Somisetty Venkatramaiah, Treasurer of Confederation of Real Estate Developers’ Association, AP Chapter, has urged the government to process building applications online for speedy and hassle-free permissions.

Mr. Venkatramaiah, who was elected as Treasurer of the State body recently, said the industry was concerned about the falling demand and slump in the market. Though prices remained stable, the industry did not register growth it had desired due to various factors.

The Association planned to initiate steps to boost confidence among real estate members and promote Andhra Pradesh as an ideal investment destination.

The body planned facilitation of meetings among consultants, vendors and financial institutions for smooth functioning of the industry. Also, it would create mechanism for marketing built-up space for builders.

The body felt that bulk material purchase would bring down the cost for developers as well as the consumers. Similarly, the industry planned skill-upgrading through training programmes as it faced shortage of skilled workers.

The body carved a route map for the next two years to manoeuvre the industry through critical period.

Confederation of Real Estate Developers’ Association plans to initiate steps to boost confidence among real estate members in the wake of falling demand and slump in the market