From April, the Real Estate Developers Association of India said that prices for houses and villas will rise by 10-15 percent.
The new quotes will take effect on April 1st. Citizens who need to shop for a home must do it in March to offset the additional cost.
JAIPUR: The Confederation of Real Estate Developers Association of India (CREDAI), the apex body for private builders, said on Saturday that it will raise the prices of houses and villas by 10-15 percent due to an increase in the price of raw materials. The updated quotes will become effective on April 1st. Since an enormous rise in the prices of number one uncooked ingredients has happened, Dhirendra Madan, the president of CREDAI-Rajasthan, stated, the prices of the devices would rise by 10-15 percent from April. Citizens who need to shop for a home must do it in March to offset the additional cost.
Increased costs of critical raw materials have exacerbated builders’ problems and hurt the business. Earnings margins have shrunk as a result of lower expenses. According to every other CREDAI member, the builders have no other choice than to increase the value of their properties. Steel, cement, copper, PVC pipes, and other constructing materials, according to builders, were at an all-time high.
They’ve also asked the country and the center to comply with a request to freeze fees so that properties may be sold to people from all walks of life.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.