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The Chairman of the real estate developer’s apex body Credai, Lalit Kumar Jain, has expressed concern over the significant hike in cement prices as it would have an adverse effect on the real estate and infrastructure sectors, already reeling under a crisis due to high input costs.
Jain said Credai plans to file a complaint with CCI against the “illogical” price hike as this creates pressure on developers to increase the sale price of homes.
“Cement prices have increased from Rs 120 to Rs 320 over the past few years,” he said.
“Usually, the monsoon brings down the number of constructions, so prices slip. This helps to average out the yearly pricing parameter, which has been the norm. Therefore, the cement price hike is unjustified,” he said.
“The cost of inputs such as steel, labour and funding have been on the rise, contributing to the increased cost of homes and we are fighting against this trend,” Jain said.
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