Surging steel, cement prices may make homes costlier: CREDAI

Surging steel, cement prices may make homes costlier: CREDAI

 Steel and general metals prices have gone up by around 30% each in the last few months which can change the dynamics of the real estate market in Bengaluru in the next two quarters, apex body of Private Real Estate Developers Associations, CREDAI said on Thursday.

In a statement, Confederation of Real Estate Developers’ Associations of India (CREDAI), Bangalore President J C Sharma said the prices that are currently on the low are likely to rise in the next two quarters.

“Considering the scepticism of potential home buyers with regard to price changes, there has been an uptick in enquiries related to home purchases and we have been trying to address all the queries,” said Sharma.

Essential inputs to construction such as cement and sand have seen an increase of around 20%, he said.

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