Coimbatore: The cost of construction that continues to increase has disrupted the Apple Developer cart, which cannot complete the project at an estimated cost.
Responsible that they are obliged to complete the project in the agreed cost when starting the developers said the increase in the cost of raw materials in the past six months has agreed to their project estimates and they cannot complete the project in the agreed cost) have been looking for the government to take steps To control the increase in the price of construction materials and help the real estate sector work towards the aim of providing affordable homes.
There are about 110 developers in the district and many of them are in affordable housing projects for medium groups -Berely.
“There is a big demand for steel in the export market and domestic players focusing on cashing on the same thing.
This has produced a short steel supply to the local market, pushing demand and further prices.” He said the cost of cement was much lower in neighboring countries.
Compared to Tamil Nadu.
He said the cost of all raw materials had risen as a result of not setting the vendor correctly.
“It is unfortunate that the price increase has handled a big blow to the industry and customers only when the industry begins to recover from a covid induced slowdown in business.” Rajiv Ramasamy, Secretary, Credai, said construction companies must be allowed to negotiate with customers and revise project costs to accommodate rising raw material prices.
“Since the Authority of the Real Estate Supervisory (Rera) does not allow this, there must be a supervisory body to examine the increase in input prices.”