Increased demands for real estate and infrastructure work have led to heightened demands for cement all over the country. This increase in demand would lead to a rise in prices of cement all across the country, as several reports show many cement companies are looking to raise the price of their product.
The average increase in price per bag seems to be different in different countries, with northern India, experiencing the lowest increase in the price of cement and the central and eastern regions of the country are most likely to experience the steepest increase in the prices of the product that is an increase of over 30-40 rupees per bag.
While some dread this moment, some are ready to take advantage of these hurdles. This can be seen in varied views by different real estate developers and people who are well-versed in the industry. Many people are obviously dreading the increase in costs as the increase in the cost of an essential product used in basic construction work will lead to an increase in property prices. The increase in prices will, in turn, reduce affordability for various people in the country who are looking to buy their dream home. This will also pose a hurdle in the dream project of the current Indian government, which is providing housing for all.
In addition to the apparent rise in prices and decrease in affordability which will slow down the train of the Indian real estate Industry, this news couldn’t come at a worse time as the industry was still not fully healed from the aftereffects of the pandemic.
Some real estate developers are also scared about the increase in prices causing an increase in the cost of the construction of the already ongoing projects, and they are worried that they will ultimately have to pass these costs to the buyers of their homes.
Through this doom and gloom some people say that the home owners can leverage this opportunity to buy real estate at the moment and be at a profit when the price of real estate increases in the future as is forecasted by the increase in the price of cement across the country.
Nagaraja Routhu, who is the Chief Executive officer of Experion Developers was on the positive side of the spectrum when it came to reacting to this news as he said that this increase in price will serve as an instrument for innovation.
