CREDAI AP Asks for Action Against Steel & Cement Companies Over Price Hike

The Confederation of Real Estate Developers Association of India (CREDAI) AP Chapter has sought action against companies manufacturing steel, cement & other raw materials required for construction for increasing prices & charging exorbitant prices even when input materials cost was relatively stable. K.S.C. Bose, the General Secretary of CREDAI-AP Chapter has urged both the Union & State governments to take serious action against these cement, steel & other construction material manufacturers as they have nearly doubled prices when their input costs have remained stable across the nation.

CREDAI-AP held a high-level meeting with representatives of National Real Estate Development Council (NREDC), Builders Association of India, State Andhra Pradesh Builders & Contractors Associations, Architects Association & other groups to discuss the abnormal hike in prices of steel, cement, plumbing material, tiles, electrical goods and other materials. The General Secretary of CREDAI-AP, Mr. Bose, while addressing the media conference, alleged that the syndicate of steel & cement companies were revising prices on a daily basis.

“A tonne of steel was available at ₹45,000 in 2021 but it is now priced at ₹86,000 per tonne. The cement bag, which was priced at ₹250 a year ago, is now available at around ₹400. The revision of prices of other materials is also done on a day-to-day basis, putting the entire construction industry in crisis,” Bose added. Bose urged the government to appoint a high-level committee of experts to study the material, production & transport costs so that the prices could be fixed in accordance to the input cost expenditure.

CREDAI-Vizianagaram chapter representatives V. Parthasarathi, Ch.S.N. Raju, K. Rajasekhar and others urged the traders, who were supplying those materials, to cooperate with them since their business was also affected very badly with the stopping of nearly 100 ongoing projects in Vizianagaram city itself. State Andhra Pradesh Builders and Contractors Association-Vizianagaram district president P. Gopi said that the contractors were unable to take up any works with the skyrocketing prices of cement, steel and other building material.

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