Building your dream home has turned more pricier than a year ago as the cost of has shot through the roof.
The prices of recorded a spike of 15% from projected estimates. Except for M-sand, the cost of most raw material increased, with cement and steel seeing steep escalation. The sharp rise in price comes at a time
when the sector was slowly getting back on track after the impact of the pandemic.
While price of 53 grade cement bag (50kg) is up by Rs 90, steel rates have shot up by Rs 22,000 per tonne in the past 18 months. There is also a spurt in the cost of electric cables and plumbing materials such as PVC pipes on an average by construction material various raw mater 2% and 14%, respectively. This apart, real estate developers in the city said most of them have effected a revision in wages for construction labourers by Rs 100 to Rs 150 per day. All these factors have pushed up the overall construction cost of building a house.