CREDAI worries over rising construction cost | Andhra Pradesh | Surfaces Reporter

CREDAI worries over rising construction cost

Worried over the rising construction cost in Andhra Pradesh, the Confederation of Real Estate Developers Association of India (CREDAI) has appealed to the state government to initiate efforts to bring the prices down. According to the report by SURFACES REPORTER (SR), the appeal has come in the wake of the construction cost which has risen by Rs 350-500 per sq ft in a short span of time.

CREDAI has commented that the abnormal rise in the prices of sand, cement, iron and others has led to the ultimate rise in the property prices rendering them unaffordable to the people particularly the middle income group. 

Read more: Despite rising construction costs, India to become a hotspot for investment says- JLL

"The price of steel has reached to Rs 65,000 a tonne from Rs 50,000 in the past few months. The cement price also reached to Rs 350 a 50-kg bag and availability of sand has become very difficult all over the state. As a result, the construction cost per square feet has risen by Rs 350-500 in the short time," K S Chandra Bose, General Secretary, CREDAI Andhra Pradesh chapter, said.

Read more:2021 Construction and Building Material Industry Trends in India

The entire burden is to be borne by the consumers and the middle class people were not in a position to purchase flats in towns and cities, he said and requested the government to bring down the price of steel and cement and make sand available in adequate quantities.

Keep reading SURFACES REPORTER for more such articles and stories.

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