With a war going on, residential prices may go up | SR Realty News Update

India' housing industry may suffer a price hike due to the ongoing war between Russia and Ukrain which is causing a major surge in the cost of energy. A report by SURFACES REPORTER (SR).

Rising oil prices

As the oil prices shoot past triple digits in dollars for the first time since 2014, the residential industry is surely going towards price hike due to the surging input costs.

Harshvardhan Patodia, president, Confederation of Real Estate Developers' Associations of India (CREDAI), says, "Oil prices have continued to rise over the last couple of months owing to concerns in disruptions of the global supply chain amid the crisis. Additionally, the oil surge will further impact Indian cement makers that were already reeling under the pressures of rising costs of raw material and energy."

The experts expects that the cement manufacturers will inevitably have to pass on the burden of this cost push as over 60% of their business is either directly or indirectly linked to crude prices.

While developers believe they may have to increase housing prices, they expressed their inability to specify the quantum or range as the situation continues to be fluid. The final call on that would depend on how long the conflict continues.


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