CREDAI members protest against surge in cement prices

The members of Confederation of Real Estate Developers' Associations of India (CREDAI) are up in arms against the unprecedented hike in cement prices by cement companies. The surge in cement prices, according to the CREDAI members, has been affecting the deliverability of their projects and, therefore, they have been compelled to send numerous complaints and protest mails to CREDAI.

In the last two months, the cement companies hiked cement prices by 20-40 per cent across the nation. This hike was despite the cost of cement production remaining unchanged, apart from availing various government subsidies, according to members.

The hike in cement prices is also likely to affect the government's plan to make housing affordable to achieve the goal of providing housing for all by 2022.

The complainants comprise of the CREDAI developers of about 350 affordable housing projects along with 2 million units that are in the pipeline. These housing projects projects are likely to be significantly affected by the rise in prices, besides piling extra burden of higher price on the customers.