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
Happiest Minds purchases 2.4 lakh sq ft office space in Bengaluru
-
New Launches4 weeks ago
L&T Realty signs up for three projects worth $ 1 bn in prime locations of MMR
-
Tech Take4 weeks ago
Benefits of remote monitoring using IoT
-
News4 weeks ago
125 new project registration applications in UP RERA during the period of Jan-June’22
-
News4 weeks ago
Delhi RERA Chairman alerts realty sector on stronger scrutiny & punitive action on projects defying RERA registrations
-
New Launches4 weeks ago
Strata launches Grade-A office asset in Pune
-
News4 weeks ago
Pacific D21 Mall set to spruce up fun in July
-
New Launches4 weeks ago
Pune Airport’s new Retail and Coworking Centre set to launch on October 15, 2022