Why buying a home is getting tougher
The HinduAshutosh T., a techie, started building his dream home in December 2021 and is yet to complete the project. “I have seen the rally in the prices of construction materials throughout the past six months. Suresh Hari, chairman, Confederation of Real Estate Developers’ Association of India -Bengaluru, said, on an average, inflation in construction materials and the labour market had effectively increased the input costs in the sector by around 30 to 40%. Some builders are asking for an additional cost due to inflation, but homebuyers are unlikely to pay that due to contracts drawn up before,” he said, adding the reduction in guidance value by the government had provided the sector some relief. There is a need for the government to intervene and regulate prices or at least the misuse of circumstances by the industry artificially hiking prices,” Mr. Hari said.
History of this topic
)
Discover Related
)
