Realtors threaten boycott of cement as prices zoom
Cement prices have increased from Rs 120 to Rs 320 in the past few years
Hyderabad: With the sudden increase in the prices of cement, Telangana and AP developers have decided to stop buying cement from July 5 if the hike is not rolled back.
CREDAI chairman Lalit Kumar Jain said, “CREDAI plans to file a complaint with the CCI against the ‘illogical’ price hike as this creates pressure on developers to increase the price of homes. Cement prices have increased from Rs 120 to Rs 320 in the past few years. Monsoons bring down the number of constructions. Prices slip. This helps to average out the yearly pricing parameter which has been the norm. The cement price hike is unjustified.”
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AP and Telangana contribute 80 million tonnes to the national capacity of 325 million tonnes, which is about 25 per cent of the total installed capacity. The Confederation of Real Estate Developers’ Associations of India (CREDAI), along with all its chapters in T and AP have came together to form a JAC.
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