Property Prices: If you are thinking of buying the home of your dreams, then you have to loose your pocket more. Because whether to buy a flat or to build a house, both can be expensive by 10 to 15 percent. In fact, in recent times, the prices of steel, cement to paints and other things needed to build houses have increased tremendously.
steel, cement become expensive
CREDAI, an organization of real estate companies, has expressed concern over the increase in the prices of these things needed to build a house. Credai has said that if the prices of raw materials are not reduced, then the prices of houses may increase by 10 to 15 percent.
Suggested reduction in GST rates
Credai has suggested reduction in GST rates on items used in house construction to provide relief to home buyers from this inflation. Credai says that the prices of raw materials used in house construction There has been a steady increase since January, 2020.
Delay in construction due to the Covid 19 lockdown and labor shortage has already led to an increase of 10 to 15 percent in the construction cost in the last 18 months. CREDAI said that if the raw material prices do not fall in the near future, there is a high probability that the property prices will increase by 10-15 per cent to compensate for the increased cost of construction.
Builders will pass the burden on the customers
Credai President Harshvardhan Patodia said that we have been seeing a sharp increase in the prices of raw materials in the last one year. And they are not likely to come down or stabilize in the near future as well. He said that in such a situation it is not possible for builders to bear the burden of this increase. Therefore, the builders will pass the burden of increase in cost on the home buyer.