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Friday, February 26, 2021

Pune: Builders’ lobby asks for govt intervention in cement, steel price rise

Many developers, the press release stated, would be forced to halt their construction work if the prices of the key raw material continues to rise.

By: Express News Service | Pune |
Updated: February 13, 2021 7:36:59 pm
As per the memorandum, the price of cement (50 kg) in the last two years from January 2019 to December 2020 has increased from Rs 360 to Rs 430, whereas steel price (per tonne) has increased from Rs 40,000 to Rs 58,000 in the same period. (Representational)

CREDAI Pune Metro – the consortium of realtors of the region – has sought government intervention in the rising prices of construction raw material and what they claim as the cartelisation by cement and steel manufacturers. The body has submitted a memorandum to the district collector, Rajesh Deshmukh, seeking his intervention in the matter.

A press statement issued by the body stated that it has appealed to the government authorities for their intervention. “Construction raw material including steel and cement are vital for the revival and survival of real estate, which is facing challenging times…,” the release read.

Many developers, the press release stated, would be forced to halt their construction work if the prices of the key raw material continues to rise. “With the thin margins, many developers may be forced to halt construction work, thereby impacting the delivery of the projects, leading to penalty under RERA and other authorities. Due to this, the homebuyers, too, will have to bear the consequences,’ the memorandum stated.

As per the memorandum, the price of cement (50 kg) in the last two years from January 2019 to December 2020 has increased from Rs 360 to Rs 430, whereas steel price (per tonne) has increased from Rs 40,000 to Rs 58,000 in the same period.

Suhas Merchant, president, CREDAI-Pune Metro, said, “The increase in the prices of construction raw materials, including steel and cement, is highly unethical and amounts to unfair and restrictive trade practices. We appeal the government at the state and central level to take this issue as it is essential to control the price rise for the construction to be started in full swing and get the economy of the country back on its growth path.”

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