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As the state government had increased the prices of Cement and Steel and other construction raw materials, Aditya Javdekar, CEO of Vilas Javdekar Developers was interviewed by ABP Majha on the subject and its impact on real estate.

With the Steel and Cement manufacturers imposing a sudden increase in their selling price across the state, the developers feel that the action would lead to the increase in the construction cost and overall project cost. With thin margins, many developers may be forced to halt construction work, thereby impacting the delivery of the projects, leading to penalty under RERA and other authorities.

The price of Cement (50 kg) in the last two years from January 2019 to December 2020 increased from Rs 360 to Rs 430, whereas Steel price (per tonne) increased from Rs 40,000 to Rs 58,000 from January 2019 to December 2020.

"Commenting on the issue, Javdekar said, If the increasing rates of Cement and particularly steel are not checked then the housing rates too will increase and there will be no affordable housing for anyone. In India, the infrastructure needs a boost and there is a demand for these two commodities. We appeal to the government to classify the products under essential commodity and to stop its price rise, which otherwise will impact home-buyers."

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