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CREDAI urges Andhra Pradesh Government to bring down prices of building material

CREDAI urges govt to bring down prices of building material
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CREDAI urges govt to bring down prices of building material

Highlights

Says abnormal increase in prices of steel, cement and continuous shortage of sand in the State has resulted in rise in costs of construction making flats unaffordable to the middle class

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Vizianagaram: Confederation of Real Estate Developers Association of India(CREDAI) appealed to the state government to bring down the prices of materials used in construction sector.

Due to abnormal rise in prices of sand, cement, iron and others, the price of the flats is also rising becoming unaffordable to consumers, mainly middle classes, they said. CREDAI Andhra Pradesh chapter general secretary K S Chandra Bose, addressing the media here on Tuesday, said the cost of raw materials has been increasing for the past few years.

"The price of steel has reached to Rs 65,000 a tonne from Rs 50,000 in the past few months. The cement price also reached to Rs 350 a 50-kg bag and availability of sand has become very difficult all over the state. As a result, the construction cost per square feet has risen by Rs 350-500 in the short time," he said.

The entire burden is to be borne by the consumers and the middle class people were not in a position to purchase flats in towns and cities, he said and requested the government to bring down the price of steel and cement and make sand available in adequate quantities.

Representatives of the association V Parthasarathi, Ch Suryanarayana Raju also participated in the press conference.

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