The NO WORKDAY was announced by The Confederation of Real Estate Developers’ Associations of India (CREDAI) along with all its chapters in association with Telangana Real Estate Developers’ Association (TREDA), Telangana Builders Federation (TBF), and Telangana Developers Association (TDA) to protest against the unprecedented increase in the price of raw construction materials was a grand success. More than 1000 developers in the city and about 800 members across the state participated in the No Workday. This impacted over 2,50,000 direct workforce, 50,000 to 60,000 indirect labor, and 25,000 to 30,000 technical staff involved in the various projects. The rise in raw material costs is acting as a negative catalyst that will cause an increase in home prices and impact the delivery to home buyers. If not controlled, the increase in prices of raw materials like steel, aluminum, copper, PVC pipes, etc. will severely hamper the real estate sector and lead to a hike in property prices and job losses if the developers are forced to stop construction work. The ‘No Work Day’ was organized to register the concern of the developer community on the steep and unjust increase in prices of raw materials and highlight the impact if prices are not controlled.
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