CREDAI says tricky situation for Gujarat realty market

Vadodara:
Due to constant increase in prices of construction materials such as cement, steel, bricks and lack of skilled workers has severely damaged the property market in Gujrat, a senior official of Confederation of Real estate Developers Associations of India (CREDAI) said.
Credai Gujarat unit’s vice president Vipul Thakkar said that, because of rising prices of construction materials and several other factors like lesser availability of skilled labourers realty projects will be affected by this across the state and delayed too. He added that “realty business in many big cities in the state including Ahmedabad, Vadodara, Rajkot, Surat, Jamnagar and Bhavnagar, have been hit by this.”
Reportedly, cement manufacturers has been hiked the prices four times over the past one year and made the housing construction projects costlier in the region. The cost of cement per bag has gone up to Rs 270 from Rs 170 over the past one year,” Thakkar said.