Housing costs increase by 10-15% in Andhra Pradesh
Real Estate

Housing costs increase by 10-15% in Andhra Pradesh

Individual housing and flats have turned costlier by 10-15% in parts of Andhra Pradesh as the developers have imposed a price hike due to the high costs of construction raw materials.

Building materials like steel, cement, plastic and labour charges are witnessing a steep rise, with the builders and customers facing the challenge.

The Indian real estate sector was hit by the Covid-19 pandemic. The steep rise in prices of raw materials has compounded the woes of developers. The price rise has led to homes getting costlier in Vizag and Vijayawada.

The Confederation of Real Estate Developers Associations of India (CREDAI), National Real Estate Development Council (NAREDCO), and Builder Association of India (BAI), in parts of the state, protested against the abnormal price hike of construction materials.

President of CREDAI-Andhra Pradesh, B Raja Srinivas, told the media that the basic prices of cement, steel, electrical, painting, plumbing, sanitary and 250 other materials had increased abnormally. The prices of petrol and diesel have also increased, which is the main reason for the price rise of all other materials.

He said that the prices of some of the construction materials have increased by at least 40-50%, which increased the construction costs. The buyers are facing challenges due to the price hike.

Srinivas said that the cement and steel producers increased their prices, highlighting the various reasons such as losses due to the Covid-19 pandemic. The cost of one tonne of steel was Rs 35,000 months ago, which is 70,000 now. Similarly, the price of a cement bag increased from Rs 300 to Rs 400, while the prices of sanitary, electrical and other required items increased by over 50% in the last few months.

Image Source

Also read: Rising construction costs increase home buying costs: CREDAI

Individual housing and flats have turned costlier by 10-15% in parts of Andhra Pradesh as the developers have imposed a price hike due to the high costs of construction raw materials. Building materials like steel, cement, plastic and labour charges are witnessing a steep rise, with the builders and customers facing the challenge. The Indian real estate sector was hit by the Covid-19 pandemic. The steep rise in prices of raw materials has compounded the woes of developers. The price rise has led to homes getting costlier in Vizag and Vijayawada. The Confederation of Real Estate Developers Associations of India (CREDAI), National Real Estate Development Council (NAREDCO), and Builder Association of India (BAI), in parts of the state, protested against the abnormal price hike of construction materials. President of CREDAI-Andhra Pradesh, B Raja Srinivas, told the media that the basic prices of cement, steel, electrical, painting, plumbing, sanitary and 250 other materials had increased abnormally. The prices of petrol and diesel have also increased, which is the main reason for the price rise of all other materials. He said that the prices of some of the construction materials have increased by at least 40-50%, which increased the construction costs. The buyers are facing challenges due to the price hike. Srinivas said that the cement and steel producers increased their prices, highlighting the various reasons such as losses due to the Covid-19 pandemic. The cost of one tonne of steel was Rs 35,000 months ago, which is 70,000 now. Similarly, the price of a cement bag increased from Rs 300 to Rs 400, while the prices of sanitary, electrical and other required items increased by over 50% in the last few months. Image Source Also read: Rising construction costs increase home buying costs: CREDAI

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?