Trends
Realty Developers Seeks Regulation For Cement And Steel Sectors
The Competition Commission of India (CCI) had levied a penalty of about Rs 6,000 crore on the cement companies earlier for cartelisation and the matter is under appeal, Goel said.

The Competition Commission of India (CCI) had levied a penalty of about Rs 6,000 crore on the cement companies earlier for cartelisation and the matter is under appeal, Goel said.
Citing the runaway prices of steel and cement, real estate developers are hoping that the central government set up a regulator for these two sectors, said top officials of Confederation of Real Estate Developers’ Association of India (CREDAI).
They also said the possibility of importing cement should be looked at as the rise in the prices of construction inputs is squeezing out their margins and may have to be passed on to the customers.
Speaking to media after releasing the national survey of Covid-19 impact on real estate sector Pankaj Goel, Secretary said the price hike in steel may be due to shortage in supplies as the plants are focused on producing oxygen for Covid-19 patients.
The Competition Commission of India (CCI) had levied a penalty of about Rs 6,000 crore on the cement companies earlier for cartelisation and the matter is under appeal, Goel said.
The cement prices have gone up by 20 per cent and the steel prices by about 40 per cent in recent times, officials said.
On the question of having a regulator for steel and cement Goel hoped that it would become a reality soon.
CREDAI officials said imports of cement may be difficult given the clout that the cement manufacturers have.
The CREDAI has represented to the government to infuse financial stimulus and initiate progressive measures to assist the sector’s recovery.
The organisation has requested for liquidity infusion, one-time restructuring of loans, across the board six months extension of completion date by RERA, stamp duty reduction or waiver, moratorium extension on principal and interest for six months and others, Harsh Vardhan Patodia, President, CREDAI said.
The survey report was made with the participation of 4,813 developers from 217 cities and is the latest ground report on which the government should base its decisions, officials said.
According to the survey report, over 95 per cent developers feel inevitable project delays if no urgent relief measures are injected in the sector by the Government and the Reserve Bank of India (RBI).
These delays are attributed to a range of factors, like labour shortage at construction sites and project approval delays.
As per the survey, 98 per cent of the developers are facing reduced customer enquiries and 42 per cent developers are experiencing a 75 per cent decline in customer enquiries.
Furthermore, the report reveals that the second wave has caused 95 per cent of customers to postpone their purchase decisions.
Source: IANS
(The story has been published from a wire feed without modifications to the text. Only the heading has been changed)
ALSO READ: RBI Extends Risk-Based Internal Audit System To Select HFC’s

-
Blogs1 month ago
Redefine Convergence Between Quality Of Life And Luxury Homes
-
RealtyGURU3 weeks ago
The Rise Of Smart Elevators In The New Reality
-
RealtyGURU1 month ago
Ultra-Modern Urban Transportation At Mumbai’s Eastern Waterfront To Make Commute Seamless
-
Allied Industries4 weeks ago
State Bank of India To Sell Khare And Tarkunde Infra To Recover Over Rs 99 Cr
-
PropTech4 weeks ago
Embassy Group Invests In Pi Labs Fund 3
-
Blogs5 days ago
Top Reasons To Invest In Navi Mumbai Real Estate
-
PropTech1 week ago
Startup Get My Parking Raises Rs 43 Crore In A Fresh Funding Round
-
Commercial News1 month ago
Office Market May Pick Up Pace From 2022 In Wake Of Robust Hiring By Large Corporates: Anarock