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Members of the Confederation of Real Estate Developers’ Association of India (CREDAI) are taking part in a nation-wide strike – property registrations and construction activity by members are likely to be affected. Builders claims to wear black ribbons as a mark of protest against wrong policies and corruption of the system. Through its hoardings, CREDAI is stating, “Dear System, We want to live! Stop Killing Us! Time to look at those buried for greenery and possibly development of cronies.
The strike comes on the heels of a member committing suicide in Thane, on October 7 citing harassment by government departments. Suraj Parmar of Cosmos Group left a development suicide note in which he had cited delays in approvals, rejection of plans with retrospective effect, political interference and government delays in approvals as some of the reasons that led him to take the extreme step. A statement from CREDAI said all offices, sales offices, registration and activity would be closed on Tuesday. A single-window clearance system and faster government approvals, all long-standing demands of the real estate sector, were ignored in this year’s budget, leading to disappointment for the industry.

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