CHENNAI: Due to the increase in the prices of materials like sand, cement and bricks, the construction cost of houses has gone up to Rs 200 per square foot. This, in the next few weeks, will reverberate in house prices as well, construction industry said.
In Tamil Nadu, due to Corona and curfew, in 2020 and 2021, construction works were affected due to shortage of construction materials and workers. Then, starting in 2022, the normalcy is gradually returning.
The construction work is becoming active as the out-of-state workers, who have been displaced by the corona virus, are gradually returning to Tamil Nadu.
Thus, most of the construction companies are focusing on speedy completion of the projects already announced. This is reviving the construction industry.
In this regard, S. Ramaprabu, executive of the Indian Association of Builders, said:
Currently, as the construction work is speeding up, the prices of cement, sand, bricks etc. are gradually increasing.
Apart from this, the price of DMT, wires, PVC, pipes and aluminum materials for construction work has also started to rise.
As a result, the cost of construction has gone up by Rs 200 per square foot to over Rs 2,000. Following this, house prices are likely to go up to Rs 1,500 per square foot gradually.
This is what he said.
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