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Thursday, March 04, 2021

Realtors, contractors to go on strike against cement, steel price hike

The rising prices of these raw materials is expected to push the construction costs up by 15-25 per cent, thus impacting prices of housing and other commercial structures.

By: Express News Service | Ahmedabad |
February 11, 2021 6:20:11 pm
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Real-estate developers and contractors in Gujarat will observe a day-long nationwide strike on Friday to protest against the “undue hike” in prices of cement, steel, diesel and bitumen which in the near future could increase the construction costs by 15-20 per cent.

“In the last one year, the cement and steel companies have hiked prices by forming a cartel. The cement companies have hiked prices by 20-25 per cent, while prices of steel have gone up by 40 per cent. This has adversely impacted the construction sector,” said Kirti Thacker, Chairman of Gujarat unit of Builders’ Association of India (BAI) on Thursday.

“We will observe strike on Friday and demand the government to form a Cement Regulatory Authority,” he added.

Besides the spurt in prices of cement and steel, the rise in prices of Bitumen and diesel is also impacting infrastructure projects in the public domain said representatives of Gujarat Contractors Association (GCA).

Apart from BAI and GCA, CREDAI Gujarat, GIHED and Association of Consulting Civil Engineers (India), Gujarat, will be participating in the strike.

The rising prices of these raw materials is expected to push the construction costs up by 15-25 per cent, thus impacting prices of housing and other commercial structures.

The president of GIHED (Gujarat Institute of Housing and Estate Developers), said, “It is totally impractical and unreasonable to get cement in Gujarat at a higher price as compared to other states.” Gujarat has a number of cement manufacturing units.

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