VISAKHAPATNAM: CREDAI Andhra Pradesh has welcomed the state govt’s landmark decision to repeal the Non-Agricultural Lands Assessment (NALA) Act, calling it a progressive step that will ease financial and administrative challenges for the real estate sector.
The move follows persistent advocacy by CREDAI Andhra Pradesh, which had highlighted the burden imposed by high land conversion charges on both developers and the general public.
CREDAI state president Bayana Srinivas Rao, chairman Buddiga Srinivas, and general secretary D Rambabu emphasized that scrapping the NALA Act will significantly reduce costs for property developers and landowners. By eliminating conversion charges, the decision is expected to streamline the development process, attract more investment, and accelerate real estate growth in the state.
“This crucial reform will make housing and infrastructure projects more affordable, ultimately benefiting homebuyers and the broader community,” CREDAI leaders stated. They further acknowledged that the decision would stimulate economic activity and urban development by removing a major financial hurdle in land utilization.
Expressing gratitude to CM Nara Chandrababu Naidu, minister for revenue, stamps and registration Anagani Satyaprasad and minister for MA&UD P Narayana and the state government, CREDAI Andhra Pradesh lauded the administration for addressing industry concerns and prioritizing a pro-development approach.
