14 , March , 2022
Owing to the increase in the cost of raw materials, the apex association of private developers, CREDAI has announced that there will be an increase in the prices of flats and villas by 10-15% in Rajasthan. The revision in the prices will come into effect from 1st April. Dhirendra Madan, President, CREDAI-Rajasthan, said, “As there is a steep jump in the prices of key raw materials, the prices of the units will be increased by 10-15% from April. Residents who are planning to buy a house should buy it in March to save the extra cost.”
Due to a pandemic hit scenario, the realty sector is already brawling with several problems. To make matter worse, increased prices of key raw materials has only added to the woes of developers and hit the sector hard. “The profit margins have reduced due to increase in cost. The developers are left with no option but to increase the cost,” said another CREDAI member.
As per the industry sources, the prices of construction materials which includes cement, copper, steel, PVC pipes etc. has witnessed a record spike and in fact aluminum prices were recorded highest and consistently high fuel prices has led to the increase in project prices.
The developers have also urged the state government and the Centre to bring a policy to maintain the prices so that houses can be provided to all the sectors.
