Builders on pause mode

Builders in the region seem to have hit pause mode in view of the escalating cost of cement, steel and other construction materials.Medium-scale builders say that in the absence of cost-escalation cla

Builders in the region seem to have hit pause mode in view of the escalating cost of cement, steel and other construction materials. Medium-scale builders say that in the absence of cost-escalation clause with buyers, they find themselves forced to operate with squeezed profit margins. On an average, the cost per construction for no-frills buildings in the city and surroundings now hovers around ₹ 2,000 per square foot for ground floor, and ₹ 200 lesser for upper floors.