Steel for jump in new house cost as sand gets pricey in Chennai
By Express News Service | Published: 04th January 2018 01:58 AM |
Last Updated: 04th January 2018 09:42 AM | A+A A- |
CHENNAI: If you are planning to buy a 1,000 sq ft three-bedroom-hall-kitchen flat in the next few months, be prepared to pay about Rs 5 lakh more.
For, real estate developers are planning to jack up the cost of flats by about 10 per cent because of the jump in sand, cement and steel prices.
Sharing the information with the media, Suresh Krishn, president, Confederation of Real Estate Developer’s Associations of India (CREDAI), said the real estate sector had suffered a setback bacause of the implementation of GST. Also the cost of raw materials as gone up, so developers would pass it on to customers.
He said the overall cost of construction per sq ft has increased by Rs 400. Of this, sand alone costs Rs 200 more per sq ft.
Sand, priced at Rs 35 per cubic foot six months ago, is Rs 135 now — a jump of Rs 100. As a result, the per-square-foot construction cost involving sand has risen by Rs 200.P2
