News
Credai writes to PM; seeks action against ‘cartelisation’ by steel, cement manufacturers
Credai has written to the Prime Minister and all concerned ministries urging them to take note of cartelisation by cement and steel manufacturers.
The realtors’ body has also requested the Government for an immediate intervention in regulating the prices of construction raw material amidst the ongoing pandemic.
The Credai letter said with a continuous and sudden upsurge due to cartelisation in the prices of steel, cement and other raw material, real estate developers are experiencing an inevitable increase in construction cost and are faced with situation that will create a delay in delivery and stalling of projects, thereby impacting the homebuyers.
A press release by Credai said, high prices of cement and steel have been a serious concern and many industry leaders and ministers have expressed their concern over this on many public platforms. It said that MoS of State for Road Transport and Highways VK Singh warned cement companies against cartelisation at an industry event in September 2020. Union Minister for MSMEs and Road Transport and Highway Nitin Gadkari had also cautioned steel and cement manufacturers for the irrational upsurge in prices and had raised this issue with the PM.
Cement prices have increased by more than 23 per cent and the steel prices by more than 45 per cent since the beginning of this year.
-
News4 weeks ago
KW Delhi 6 Mall Onboards New Brands
-
News4 weeks ago
Commercial Realty Gets Tech Savvy: Fast Construction, Enhanced Convenience
-
News3 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News3 weeks ago
RBI’s Status Quo on Key Policy Rates to Help Maintain the Real Estate Growth Momentum, Say Industry Stalwarts
-
News2 weeks ago
Olive Announces Dhruv Kalro as Co-Founder
-
News1 week ago
Noida’s High-Rise Societies Face Multiple Challenges Despite Rapid Urban Growth
-
News3 weeks ago
Godrej Properties Sells 5000+ Homes of Rs 9.5 cr in Q4FY24, Bookings up 84% YoY
-
News2 weeks ago
Vestian: Domestic Investors Dominate Institutional Investments in Jan-Mar’24