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Builders might stop all construction work because of steep price rice of cement
Posted on: 27/Jun/2014 2:21:27 PM
The Confederation of Real Estate Developers Associations of India (Credai) has asked the government to intervene and roll back prices because of the recent “steep increase” in cement prices by southern manufacturers. Despite being the single largest producer of cement in the country, consumers of Andhra Pradesh are the worst affected with a hike of Rs 100 per bag (50 kg). The increase in Tamil Nadu and Karnataka is Rs 70 per bag and in Kerala it is Rs 60 per bag.
As a mark of protest, real estate developers have decided to stop purchasing cement from June 30.
Confederation of Real Estate Developers Associations of India will even stop all construction work, including government infrastructure projects from July 7, if the manufacturers do not roll back prices.
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