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Steep rise in construction material prices puts realtors in a tight spot, to make homes dearer
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In times of the pandemic when the real estate sector in India is still grappling with various problems and issues, a steep jump in the prices of key raw materials such as cement and iron & steel, among others, has compounded the woes of developers further and is also likely to hit the sector hard.
Expressing their concern over increasing prices, even realtors’ apex body Credai recently said that housing prices may rise by 10-15% if the prices of construction raw materials are not reined in.
Commenting on the same, Prashant Thakur, Director & Head-Research, ANAROCK Group, said, “Housing developers’ profit margins are already wafer-thin and the rising inflationary trend of basic input costs such as cement, steel and labour is a real challenge.
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