Soaring cement prices burdens projects in Indore
Soaring cement price has posed a huge burden on housing projects raising concern over delay in new projects and slowing down pace of existing ones.
The sudden hike in prices that accounts for about 10 per cent in total cost of construction is seen hitting the ongoing work of affordable housing segment and infrastructure projects.
Relators say market scenario does not permit to pass on the price hike as consumer demand is not bullish.
According to Confederation of Real Estate Developers’ Associations of India (CREDAI) Indore chapter, this spike is an artificial shortage created to earn hefty margins by cartels operating the cement market.