Building material prices hit the roof in Andhra Pradesh, say CREDAI representatives
The Hindu
‘Move to hike registration charges will lead to rise in construction cost’
The steep hike in the cost of materials like cement and steel has hit the construction industry hard. The cost will go up by about ₹500 per sq. ft., considering the increase in prices of all materials, according to P. Koteswara Rao, joint secretary, CREDAI-A.P., and K.S.R. Raju president, CREDAI-Visakhapatnam.
The industry has already suffered a lot due to the COVID-19 pandemic for nearly three years. The proposal of the State government to hike the registration charges would lead to a proportionate increase in the cost of land and thereby the construction cost, the CREDAI representatives told a media conference here on Saturday.
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