Construction sector hit by price rise, say CREDAI leaders
The Hindu
They said the price of steel, which was between ₹43,000 and ₹46,000 in March 2020, now ranges between ₹67,000 and ₹70,000, a tonne.
The construction sector, which has already been hit by the coronavirus pandemic, is being pushed into a crisis due to the steep hike in the cost of sand, cement and steel, apart from the abnormal increase in transportation costs, said CREDAI chairman Bayana Srinivasa Rao and president KSRK Raju.
Addressing a media conference in Visakhapatnam on Tuesday, they said that the price of steel, which was between ₹43,000 and ₹46,000 in March 2020, now ranges between ₹67,000 and ₹70,000, a tonne. The corresponding rates for cement, which ranged from ₹230 to ₹260 for a 50kg bag, now costs between ₹370 and ₹400 and river sand which was ₹3,500 a unit, now costs ₹6,000.
Similarly, the cost of materials used in secondary stage construction such as tiles, electrical materials, fabrication, putty and paintings, plumbing, sanitary and wood have all increased.