Naredco seeks CCI's intervention for cement cartelisation

NAREDCO (National Real Estate Development Council) - the real estate developers body - has approached the Competition Commission of India (CCI) and sought its intervention against the alleged cement cartelisation hitting real estate developers.According to the body, cement prices are being pushed up due to artificial scarcity being created by cement cartels that is ad­versely affecting the business. If cement prices go up, construction projects get de­layed and the price increase is passed on to the consumer.Besides the cost of housing, building and construction, prices of all related infrastructure industries will also go up, which will then have to be borne by the consumer.Contact: National Real Estate Development Council. Tel: 011-2622 5795.  Fax: 011-2622 5796. E-mail: naredco@naredco.in Website: www.naredco.in