Rising construction costs increase home buying costs: CREDAI

30 Oct 2021 CW Team

The Confederation of Real Estate Developers' Associations of India (CREDAI), Maharashtra, asked the homebuyers to be ready for a steep rise in housing costs as the construction sector is reeling under inflation woes.

While addressing a press conference, CREDAI President of Aurangabad, Nitin Bagadiya, told the media that the costs of raw construction materials had risen sharply in the last few days. Due to which the construction sector has to bear increased prices per project.

He added that the prices of construction materials, including cement, steel, aluminium, plumbing materials, labour transportation, among others, are increasing. The increasing cost will affect the builders and the homebuyers.

The construction sector is a leading industry in the country. The construction business is again under crisis due to the increasing costs of projects.

While the construction sector was facing a crisis due to demonetisation, Goods and Services Tax (GST) and the Covid-19 pandemic, the increasing prices of construction material have affected the whole budget, he said.

He said that the construction sector is the country's largest provider of Gross domestic product (GDP), the largest employer and a factor for economic development. However, homebuyers are facing a financial crisis for multiple reasons.

The Covid-19 lockdowns had affected the construction workers, along with several stalled projects. The rising price of fuel, cement and steel has a huge impact on the construction sector. The housing costs are likely to increase by Rs 500 per sq ft after Diwali, he said.

Akhil Khanna, CREDAI Secretary and Rajendra Jabinda, former state CREDAI President were also present during the press conference.

Image Source

Also read: Rising steel, cement prices to impact real estate

Infrastructure Transport

09 Jan 2026

India Becomes First to Produce Bio-Bitumen for Roads

India has become the first country in the world to commercially produce bio-bitumen for use in road construction, according to Road, Transport and Highways Minister Nitin Gadkari. Bitumen, a black and viscous hydrocarbon derived from crude oil, is a key binding material in road building, and the bio-based alternative is expected to significantly improve the sector’s environmental footprint.Addressing the CSIR Technology Transfer Ceremony in New Delhi, Mr Gadkari congratulated Council of Scientific and Industrial Research on achieving the milestone, noting that the initiative would help curb ..

HILT Policy Seen Boosting Telangana Revenue Sharply

The Hyderabad Industrial Land Transformation (HILT) Policy is expected to generate around Rs 1.08 billion in revenue for the Telangana state exchequer, according to Deputy Chief Minister Bhatti Vikramarka Mallu. Speaking in the Telangana Legislative Assembly, he said the policy would be implemented within a six-month timeframe in a transparent manner, with uniform rules applicable to all stakeholders. Mr Vikramarka noted that without the HILT Policy, the state would have earned only about Rs 1.2 million per acre. Under the new framework, however, revenue is projected to rise sharply to Rs 70 ..

India Post, MoRD Tie Up to Boost Rural Inclusion

The Department of Posts and the Ministry of Rural Development have signed a Memorandum of Understanding to accelerate rural transformation and expand financial, digital and logistics services for Self-Help Groups (SHGs) and rural households across India. The agreement was signed in the presence of Union Minister of Communications and Development of North Eastern Region Jyotiraditya M. Scindia and Union Minister of Rural Development and Agriculture and Farmers’ Welfare Shivraj Singh Chouhan. The collaboration aligns with the government’s “Dak Sewa, Jan Sewa” vision and seeks to repositi..