Buying a dream house in Indore will be 20% costlier now
Real Estate

Buying a dream house in Indore will be 20% costlier now

Developers told the media that in Indore, the average cost of building a residential and commercial property has grown from Rs 1,300 sq ft to Rs 2,500 sq ft, a 20% increase. Buying a dream house in Indore has now become dearer by as much as 20% due to the rise in prices of metals and cement.

The increase in prices of metals and cement has escalated the construction costs of residential and commercial properties.

They said that the expected increase in fuel prices in March would raise the logistics cost and further hike the construction cost.

Gopal Goyal, Confederation of Real Estate Developers Association (CREDAI) Indore chairman, said that the housing costs increased as raw materials such as cement, tiles, iron, all metals, among other inputs, surged.

According to industry analysts, homebuyers then would have to pay more since developers would pass on the increased costs to consumers.

Aayush Zanzari, a commercial head at a realty company, said that since the Covid-19 pandemic outbreak, housing prices were already high and jumped by nearly 25%.

He said the supply costs have further increased due to Russia's invasion of Ukraine and a huge impact on the raw material prices is likely to be witnessed within a month as the supply chain would get disrupted.

Gopal told the media that despite the hike in construction costs, demand for residential properties seems to be good in Indore.

Image Source

Also read: IDA approves 5 schemes to develop residential, commercial properties

Developers told the media that in Indore, the average cost of building a residential and commercial property has grown from Rs 1,300 sq ft to Rs 2,500 sq ft, a 20% increase. Buying a dream house in Indore has now become dearer by as much as 20% due to the rise in prices of metals and cement. The increase in prices of metals and cement has escalated the construction costs of residential and commercial properties. They said that the expected increase in fuel prices in March would raise the logistics cost and further hike the construction cost. Gopal Goyal, Confederation of Real Estate Developers Association (CREDAI) Indore chairman, said that the housing costs increased as raw materials such as cement, tiles, iron, all metals, among other inputs, surged. According to industry analysts, homebuyers then would have to pay more since developers would pass on the increased costs to consumers. Aayush Zanzari, a commercial head at a realty company, said that since the Covid-19 pandemic outbreak, housing prices were already high and jumped by nearly 25%. He said the supply costs have further increased due to Russia's invasion of Ukraine and a huge impact on the raw material prices is likely to be witnessed within a month as the supply chain would get disrupted. Gopal told the media that despite the hike in construction costs, demand for residential properties seems to be good in Indore. Image Source Also read: IDA approves 5 schemes to develop residential, commercial properties

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors...To read the full article Click Here..

Next Story
Real Estate

Serene Communities, Prathima Group Invest Rs 4 billion in Hyderabad

Serene Communities by Columbia Pacific, India’s largest senior living operator, has partnered with Prathima Group to develop two senior living projects in Hyderabad, marking its entry into Telangana. The collaboration represents an investment of Rs 4 billion, combining Serene’s international expertise with Prathima’s local development experience. The first project, Serene BILVANI One, launched in Shankarpally, is Hyderabad’s first premium senior living community. Designed for independent and active ageing, it features senior-friendly architecture, barrier-free design, and wellness..

Next Story
Infrastructure Urban

India remains our most important market

Foundamental, the world’s leading venture capital platform focused on the project economy, has launched its third fund to strengthen its presence in India, APAC, and other global markets. Led by Berlin-based Managing Partners Shubhankar Bhattacharya and Patric Hellermann, Fund III aims for a final close by the end of 2025. In an exclusive interaction with CW, Bhattacharya shares insights on the fund’s mandate, India’s role in their strategy, and the opportunities they see in the construction-tech and project-based sectors. Can you briefly explain Fund III’s mandate and how In..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?