Real estate expert Manej Singh Meek says that since 2014-15, the prices of houses were stable. In many cities, property prices had fallen. Meanwhile, due to demonetisation, RERA and GST, new projects came in negligible. Whereas, most of the properties of old projects have been booked. Now because of Corona, people have also come to know the importance of their own house. According to Meek, due to all this, demand has started being created in the market. Developers are trying to meet this demand, but due to the increase in the prices of cement and steel, the cost of construction of houses has increased.
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Margins run out due to increase in the price of construction materials
According to Nardeco Chairman Niranjan Hiranandani, the price of cement and steel has gone up by 50 per cent in the last six months. Since their contribution in building the structure of the house remains the highest. Hence the construction cost has increased. Hiranandani, however, says that their customer segment is different due to the quality of houses, location, design and delivery time etc. Therefore, even after a slight increase in prices, the demand has not decreased. Dipesh Asnani, director of Bhopal’s Asnani Builders, says that even after Corona, demand remains in real estate. Margins have remained negligible due to increase in the cost of construction materials. Therefore the prices of houses are increasing. This is also the situation in cities like Ahmedabad, Jaipur and Lucknow.
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Big companies like DLF, Tata Realty are also increasing the price
According to sources, the country’s largest developer company DLF has also increased the prices of its yards and independent floors in Gurugram. A DLF spokesperson declined to comment on this. He said that the company’s results are about to come, it would not be appropriate to disclose anything before this. However, the price of plots in Gurugram has increased from Rs 16,000 per sq ft to Rs 25,000 per sq ft. Tata Realty and Infrastructure has increased by up to three per cent in all its 11 projects.
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