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Rising price of cement crippling the realty sector, say builders

Posted on Apr 04, 2015

The Tiruchi centre of Builders Association of India has expressed concern over the increase in the price of cement and has called for steps to bring down the price of the important raw material for the construction industry.

M. Thirusangu, the new chairman of the centre, and M.Sidharthan, past chairman, told presspersons here that the construction industry had been adversely affected in Tiruchi as the cement prices continued to rule high.

Over the past six months, the price of cement has gone up by Rs.100 a bag without any reason, they said.

“The increase in the price is perplexing as there is no increase in the price of raw material used for manufacture of cement. There is no increase in taxes either. Yet the price of cement rules high in Tiruchi, even though many cement factories are located nearby,” said Mr. Sidharthan.

The price of cement in Tiruchi was higher than that in Chennai and other neighbouring States, the builders said.

Mr. Thirusangu said the BAI would launch an agitation if the situation remained the same.

Meanwhile, the BAI at the national level had been taking steps to import cement for being supplied to its members, he said.

A.K. Yussouf, former national president, BAI, said the price of imported cement was cheaper and the current increase in the price of cement domestically was not good for the countrys economy.

The government, he said, had been providing captive mines to the cement manufacturers, who had an obligation to pass on the benefit to the consumers.

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Credai plans to buy building material in bulk in order to cut costs

Posted on Apr 03, 2015
HYDERABAD: The Confederation of Real Estate Developers' Associations of India (Credai) is looking at bulk buying to procure most of the building materials directly from manufacturers in a move aimed at cutting costs for its members numbering more than 11,000 across the country."We are preparing to experiment with the bulk buying model shortly to ba ...
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South Mumbai’s high-end luxury homes find few takers

Posted on Sep 12, 2013
MUMBAI: High-end properties in South Mumbai have fewer takers in a gloomy economy. While property appreciation in Sobo, as the area is fondly called, has dropped to 10 per cent from 30 per cent two years ago, rental yields have fallen by more than half. "All the newer projects in South Mumbai are in the ultra-luxury segment and it's difficult to fi ...
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Tiles market in India on set to boom in real estate industry

Posted on Mar 12, 2013
The tiles industry in India is been showing a remarkable growth owing to the booming real estate sector with disposable income among consumer. One of the major reasons for demand of tiles is also the growing steadily due to its price competitiveness. Also the availability of tiles in various designs and different prices which are available easily a ...
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Residential demand rises in Bangalore Suburbs

Posted on Mar 07, 2013
With ‘city limits in Bangalore getting redefined rapidly, many suburbs are coming up as prime residential localities. The rising need for affordable housing is driving homebuyers to these locations because of availability of cheaper land compared to the main city. The connectivity and improved public transport add to the potential of these local ...
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Undri is a rapidly growing residential area in Pune

Posted on Feb 19, 2013
Undri has always been a promising residential property destination in Pune, but for many years it lacked the required infrastructure. However, as NIBM Road became increasingly saturated, Undri started to come into focus. The demand from the citys manufacturing and IT sectors helped to encourage developers to concentrate more on this area. Location ...
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How to buy the right outdoor furniture

Posted on Nov 21, 2012
Our country is spread across a very large area and hence experiences a vast variety of climatic conditions. Winters are colder in the northern regions as compared to the southern part of India. The conditions can be different in coastal and hilly regions. People may prefer to stay indoors or outdoors depending on the local weather conditions. Howev ...
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Realty zooms in west Delhi, Gurgaon

Posted on Nov 02, 2012
Property prices in Delhi-NCR are on fire and the highest appreciation in the past two years has been in the upcoming areas, triggered by infrastructure development, reveals a survey by real estate portal 99 has seen the maximum price appreciation since September 2010, with Palam Vihar witnessing the highest rise of 85 per cent per ...
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Bombay High Court Dicssion on VAT good for builders

Posted on Aug 29, 2012
Nothing is gone from Builders pocket as far as VAT or service taxes are concerned. In fact, Builders must be thankful to the Hon. Court for giving retrospective decision on VAT.There is a provision in VAT for claiming Set Off against the VAT paid just like service tax. Under Maharashtra Value Added Tax 2002, a registered vendor or dealer can claim ...
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Builders protest rise in sand, cement prices

Posted on Aug 25, 2012
Over 500 people including builders and workers participated in the protest rally by Builders Association of India to voice their disapproval over the soaring prices of cement and sand in the state.Five associations including Confederation of Real Estate Developers Association, Indian Institute of Architects, Association of Licensed Building Surveyo ...
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Demand for residential properties on the rise in Thane

Posted on Aug 23, 2012
Thane has emerged as a preferred residential destination in recent years. The main reasons for this are the rapid development in various sections of the region and the surrounding natural beauty. Sanjay Gandhi National Park, Yeoor and Parsik hills are some of the places to visit that are responsible for the scenic view the city has to offer. Earlie ...
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Cement prices head south in August

Posted on Aug 22, 2012
In July, cement prices headed north in most States. Now they are heading south. The slide is marked in Andhra Pradesh, where a 50-kg bag has lost between Rs 20 and Rs 25.If the prices touched Rs 300 a bag in Hyderabad and Rs 320-330 in the Rayalseema districts, it hovered around Rs 270-275 a bag in the past week. Even in Karnataka, Maharashtra and ...
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Bangalore real estate prices to increase in the coming quarter

Posted on Aug 07, 2012
The steady pricing that Bangalore real estate has maintained so far is expected to change. The Bangalore real estate market is expected to shoot up from the next quarter, beginning September. One major reason contributing to this is the increase in cement and steel prices in the last couple of months.“We are faced with a situation today where the p ...
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Market conditions favour home buyers in Hyderabad

Posted on May 03, 2012
The Hyderabad residential property market witnessed relatively lower sales this quarter, but the market is slated to pick up in the next few months.“This being the first quarter, the sales in the city were slower, 9 percent against the last quarters 12 percent, but with the recent cuts by the RBI, the market should pickup. As of now, the developer ...
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Coimbatore realty on the growth track

Posted on May 02, 2012
Property prices in Coimbatore are at an all-time high. In the last couple of years alone, prices in the region have shot up by 25 to 30 percent, thanks to increasing labour, land and material costs. However, these factors havent diminished Coimbatores attractiveness as an ideal destination for real estate investments.Though a metro in the making, ...
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Construction Sand to be more costly in Maharashtra

Posted on Apr 07, 2012
In the Maharashtra Budget 2012-13, it is proposed to impose tax at the time of auctioning of River beds and mining of construction sands in Maharashtra.The state government have taken such step because of a large scale tax evasion by the mining sector on sand mining which is used for construction. The plaster of Paris used for internal plaster and ...
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Prices of Mumbai homes likely to remain stable

Posted on Mar 29, 2012
Home buyers in city may not find it cheaper to purchase flats despite drop in sales as prices are likely to remain steady due to sharp rise in construction costs and higher rates to fund the projects, according to Crisil, an integrated research company.Though flat sales have dropped by 40% since June 2011, property prices in the suburbs will remain ...
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Assotech Realty to pump Rs 300 cr in Noida commercial project

Posted on Mar 26, 2012
Property developer Assotech Realty today said it will develop a commercial project in Noida with an investment of about Rs 300 crore.The 14-acre project — Assotech Business Cresterra – will have a total saleable area of 1.4 million square feet comprising 1.2 million square feet of office space, 150 service apartments and about 70,000 square feet of ...
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Realty price is expected to go high

Posted on Mar 22, 2012
Purchase or construction of a house would now cost more due to expected rise in prices of key raw materials cement and steel and a hike in service tax by 2 per cent, realty players said.Barring low-cost housing, property prices are expected to rise in the coming days after the proposed hike in service tax from 10 per cent to 12 per cent.TDS at the ...
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Realty sector seeks relaxation in FDI, ECB norms

Posted on Mar 07, 2012
Realty sector, facing severe credit crunch due to higher interest rates that had forced the developers to scrap new launches, expects the Budget to relax the norms for repatriation of foreign direct investment (FDI) and external commercial borrowings (ECBs) for the sector. ''The real estate sector has witnessed rapid growth in the recent past. Howe ...
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