Prices of iron, stainless steel, fiber and glass rise
Aurangabad, Oct 22:
Breaking all previous records, the price of cement has reached Rs 440 per bag. Along with cement, prices of iron, steel and fiber have also gone up. This has massively hit the construction budget.
The rise in diesel and coal prices is said to be the main reason for the rise in construction materials prices. Cement accounts for 9 to 10 per cent of the total cost of a house. About 8 to 9 per cent of the cost is incurred on steel. Cement prices have risen by Rs 80 per bag in the last two months. For the first time in history, prices have touched Rs 440. Cement paver blocks, doors, sheets and pipes have all become expensive.
A 6 mm iron bar has gone up by Rs 7 per kg and is now being sold at Rs 62 per kg. Fiber prices have also gone up by Rs 30 and are now being sold for Rs 140 to Rs 200 per kg. According to trader Rajkumar Pandey, GI sheets and coloured sheets are being sold at Rs 110 to Rs 118 per kg, after an increase of Rs 8 to Rs 15. Prices of steel have gone up by Rs 15 per kg and have reached to Rs 90 per kg in a month. In the last 10 months, the total price has gone up by Rs 25 per kg. According to Vijay Jaiswal, vice-president of the Vyapari Mahasangh rising diesel prices have pushed up transport fares resulting in price hike of construction material.
Sales down by 40 per cent
The district sells 90,000 metric tons of cement per month. However, record prices have stopped builders from buying new material. This reduced the turnover by 40 per cent. Cement is currently in demand from government contractors, said Manoj Runwal, president of the district cement dealers association.
Flat prices increased by Rs 3.5 lakh
Rising prices of cement and other construction materials have pushed up construction prices to Rs 350 per square feet. One thousand square feet now costs Rs 3.5 lakh more than before, Akhil Khanna, secretary, Credai.
Glass prices sour
Prices of glass for construction and home decoration have also gone up. The country has imposed restrictions on imported glass. As a result, glass prices have risen. A 12 mm glass used to sell for Rs 120 per square foot a month ago. Now its price has gone up to Rs 180. Even at this price, there is a shortage of glass, said Sardar Harisingh, trader.