The Hindu : Andhra Pradesh / Hyderabad News : Builders Association welcomes ULC Act

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Friday, Mar 28, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Builders Association welcomes ULC Act

HYDERABAD: Chairman of Andhra Pradesh Builders Association K. Ravinder Reddy welcomed the government’s decision to repeal the Urban Land Ceiling (ULC) Act.

In a release on Thursday, Mr. Reddy said that the decision to repeal ULC, which was long overdue, has come at an appropriate time. Owning a dream house will now become more affordable for the middle income families and first time home buyers, Mr. Reddy said.

This decision, in effect, would make apartment prices stabilise, he said. “This would help in faster growth of real-estate sector in the twin cities. There is possibility of larger townships being available at affordable rates,” he said.

Lands presently under litigation due to ULC will be free for development and hence cost of the land would come down. More developments will take place hence affordable housing is a reality, Mr. Reddy felt. The builder can now go for bigger townships with better amenities, he added.

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