Construction costs for housing rise 0.7% in Q3FY24: Report Housing.com
Real estate developers in India are experiencing relatively mild cost pressures with construction costs rising 0.7% in the quarter ending December 2023 when compared to the same period a year earlier, data from the TruBoard Real Estate Construction Cost Index show. The index showed a slightly higher increase than the 0.3% uptick observed in the previous quarter.
“Cost movements during the quarter have been in line with our expectations. Notably, the most significant price hikes were observed in sectors such as metal casting, granite, white cement and asbestos. However, the index remained unchanged compared to the preceding quarter. Looking at the broader trend, the index reveals that construction costs saw an average increase of 5% in FY23 compared to FY22,” the report said.
