CREDAI to increase flats prices by 10-15% from April 1 in Rajasthan

The Confederation of Real Estate Developers' Association of India (CREDAI) announced that the prices for apartments and villas in Rajasthan would increase by 10-15% from April 1, owing to the increased raw materials cost. The new rates will be effective from April 1. CREDAI-Rajasthan, President, Dhirendra Madan told the media that since there is a steep jump in the prices of key raw materials, unit prices are to be increased by around 10-15% from April. It is better for the residents planning to buy a house in March to save the additional cost. Because of the pandemic, the real estate sector is struggling with multiple problems. A rise in the prices of key raw materials has not only added to the woes of developers but also impacted the sector. The profit margins have dropped because of the increase in cost. Another CREDAI member told the media that the developers have no option other than to increase the cost. Developers told the media that there was a record hike in the prices of cement, PVC pipes, steel, copper, and other construction materials. Furthermore, aluminum prices have been recorded highest while the consistent high fuel prices have led to the rise in the project prices. The developers requested the state government as well as the Centre to bring a policy for the maintenance of the prices for the houses provided to all the sectors. Image Source Also read: Steel, cement costs jumps up by 35% over last two months