Prices of houses to increase after Diwali

Aurangabad, Oct 29:

The increased cost of the building raw material is a raising alarm for the increase in the prices of houses after Diwali, informed the Confederation of Real Estate Developer Associations of India (CREDAI) Aurangabad branch president Nitin Bagadiya in a press conference here on Friday.

CREDAI state president (elect) Pramod Khairnar, joint secretary Narendrasingh Jabinda, former Aurangabad president Rajendrasingh Jabinda, secretary Akhil Khanna and others were present.

Bagadiya said, the prices of steel, cement, aluminum, plumbing articles, labour and transport have increased in the past few months. The impact of the inflation can be seen as the increased in the prices of the houses. The prices of houses in the city are likely to be increased by Rs 500 per square foot. Considering, the social commitment, the CREDAI members have decided not to increase the prices of the available houses in the city till Diwali, Bagadiya said.

Khairnar informed that the increase in the raw material have impacted the construction industry across the country. Although, the prices of houses has increased, the profit margin of the developers has decreased. The government should gain control over the increasing prices of the building raw materials or the dreams of the common people to have a house of their own cannot be fulfilled.

City branch vice president Vikas Chaudhary, Bhaskar Chaudary, Sangram Patare, Indrajeet Thorat, Anil Munot, Ashutosh Nawandar, Sunil Bedmutha, Sunil Patil, Jitendra Mutha, Rohit Suryawanshi, Sunil Raka, Panjabrao Taur, Ajit Bapat, Anil Agraharkar, Balaji Yelawar, Manoj Runwal, Deepak Kulkarni and others were present.