Buying house to become costlier? Here's how cement price rise will affect the real estate market in India Livemint.com
Several reports suggest that various cement companies in India are poised to increase prices by an average of ₹10-15 per bag. In North India, the prices of 50 kg bags will see a hike of ₹10-15, while the Western region may witness an increase of ₹20 per bag. Experts say that the rise in cement prices will directly impact the cost structure for developers and will alter the pricing landscape for consumers alike. “The recent surge in cement prices has sparked widespread concerns within the real estate sector.
This unforeseen escalation not only burdens ongoing projects but also threatens to delay proposed developments. With construction costs on the rise, developers find themselves under significant pressure. The increased cost of housing projects directly impacts affordability, posing a challenge to the government's ambitious 'Housing for All' initiative," said G Hari Babu, National President of NAREDCO.
