Cement price up by Rs 100 per bag, associations seek government intervention, Real Estate News, ET RealEstate

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Cement price up by Rs 100 per bag, associations seek government interventionCHENNAI: In one other setback to the development sector, which is reeling underneath the impact of the lockdown, cement manufactures hiked costs within the retail market by as much as Rs 100 per bag on Tuesday.

The transfer has reignited help for the lengthy pending demand for a government-led authority to control cement charges.

{Hardware} retailers coping with cement within the metropolis stated main manufacturers have hiked the value of 53 grade cement luggage, every weighing 50kg and containing have Portland Pozzolana cement (PPC), by Rs 60 a bag. Common manufacturers have elevated costs by Rs 100. The speed of Bizarre Portland Cement (OPC) of standard manufacturers jumped to Rs 60. The present value for premium model PPC ranges from Rs 365 to Rs 395, whereas OPC is offered for Rs 375 to Rs 410 a bag.

Damodaran, a cement seller at Vinayagapuram close to Retteri, is not sure of tips on how to proceed after such a steep improve of the important thing development materials.

“A buyer positioned an order for 20 luggage of cement with the outdated charges earlier than the lockdown interval and has made the cost. Now, I can’t promote him cement with earlier charges as a result of I’ll incur losses,” he stated.

Sellers stated the sudden hike, which got here as a shock, was notified on Could 1.

Cement costs had been revised in February final yr, when charges for bulk purchasers was additionally revised by Rs 70. Confederation of Actual Property Builders’ Associations of India (CREDAI) Tamil Nadu chapter president elect Suresh Krishn stated the cartelisation of cement is a blow for the sector.

“This can improve the price of development. Growing the charges by Rs 100 per bag at a time when the development sector is in doldrums was unacceptable and we would like the federal government’s intervention to rollback the costs,” he stated.

Small builders and people constructing impartial homes can be worst hit. Builders Affiliation of India state treasurer S Ramaprabhu stated a regulatory physique on the traces of TRAI was the one resolution to take care of cement costs.

When contacted sources within the cement business stated producers haven’t revised the value.

“On the commerce stage, cement costs might have seen some improve attributable to better demand now in comparison with decreased provide in Chennai and different Tamil Nadu markets. Costs are anticipated to stabilize as soon as the availability from crops in Tamil Nadu and Andhra Pradesh will increase,” a supply stated.



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