Nagpur: Home purchases may be increasingly expensive in the coming days, say builders because they may have to continue the increase in construction materials to buyers.
This can happen in new orders from new projects owned by a number of new plans have been detained because of the increase in costs, said local builders at a press conference organized by the Nagpur branch of the Confederation of the Indian Real Estate Developer Association (Credii).
The cost of building buildings throughout the council has risen since locking, they said the President of Nagpur Vijay Vijay from M / S Nithyam’s construction said there was a “steady increase in the rate of construction material” since locking.
This has led to an increase in construction costs by RS300 per square foot.
Gargan added that future buyers may have to bear costs increasing, because a 10-15% increase in the selling price can be expected throughout the project.
Builders also refer to before the possibility of cartelization in several items, by saying that tariffs have been jointly increased by all producers even if there is no appropriate increase in demand.
Secretary with Nagpur Pratish Gujarat from M / S Pratish M / S JK Builders said the steel level at the RS40,000 per ton has reached RS60,000 since January.
The cement bag charged by RS280 is now rising RS100.
They added, “Even the PVC pipe rates have risen RS500.
By opposing RS950-1,000 units, pipes are now charged RS1,400-1,500.
There has been an increase in sand and a number of basking items too.” It is expected to take construction costs to be RS1,800 square feet, such as the regular average RS1,500 square feet so far.
For existing reservations, builders can manage with inventory but for fresh buyers, the tariff may be hiking, the builder said.
“At present, the level of entry level 900-1,000 square feet in the city is in the range.
RS30 Lakh.
The price can go up to RS33-34 Lakh if ​​the increase continues,” Joshi said.
There is the same impact on the property at a higher price too.
A Cradu Committee will arrange details of fresh projects that have begun in Nagpur to assess the impact of increasing construction materials.
Builders have questioned the logic behind the steel and cement level.
If it is being associated with an increase in infrastructure activities throughout the country, which began five years ago and the new price balance has been reached.
There is little reason for the price increase when real estate activities are at low because of the pandemic, said Realtors.’big jump in wages due to the scarcity of labor workers because migration reversed to the house after locking has led to increase wages.
Even when workers have returned, there are still shortcomings.
This has caused an increase in wages by almost doubling, the builder said at the Creda.Earlier press conference, a pair of skilled and unskilled workers such as masons and helper must be paid RS700-800.
This has increased by RS 1,000-1,100, the builder claims.
Construction workers on sites in Nagpur mainly come from neighboring Chhattisgarh.