Realtors' apex body The Confederation of Real Estate Developers' Association of India has expressed concern over an increase in the rates of cement and steel during the past one year and said housing prices could rise 10-15 per cent if the prices of construction raw materials do not fall. The industry body demanded that the government should take measures to control the prices and suggested reduction in GST for construction raw materials. The Confederation of Real Estate Developers' Association of India, which has over 13,000 member developers, pointed out that the prices of construction raw materials have been increasing consistently since January 2020. Moreover, the association said the delays in construction caused by lockdowns, curfews and the shortage of labour resulted in a direct increase in construction cost anywhere between 10 per cent and 15 per cent in the past 18 months.
Realtors' apex body The Confederation of Real Estate Developers' Association of India has expressed concern over an increase in the rates of cement and steel during the past one year and said housing prices could rise 10-15 per cent if the prices of construction raw materials do not fall. The industry body demanded that the government should take measures to control the prices and suggested reduction in GST for construction raw materials. The Confederation of Real Estate Developers' Association of India, which has over 13,000 member developers, pointed out that the prices of construction raw materials have been increasing consistently since January 2020. Moreover, the association said the delays in construction caused by lockdowns, curfews and the shortage of labour resulted in a direct increase in construction cost anywhere between 10 per cent and 15 per cent in the past 18 months.
