Realtors’ body may move CCI on cement price hike

Realtors’ body CREDAI on Monday said cement prices have gone up by Rs. 60-70 per bag of 50 kg in the last one week and it is mulling approaching fair trade regulator Competition Commission of India (CCI) alleging cartelisation by cement producers.

“CREDAI will consider going to CCI seeking intervention against cartel of cement manufacturers,” the association said in a statement.

When contacted CREDAI chairman Lalit Kumar Jain said cement prices have gone up by about Rs. 60-70 per bag across the country in last one week.

“We feel that there is a cartel. We are considering moving CCI. We are currently taking legal advice,” he added.

“Cement prices have increased from Rs. 210 to Rs. 275 over the past few days in Pune and indications are that they will go up further by Rs. 50 per bag in the near future,” Jain said.

He said rates have gone up by Rs. 60-70 per bag across India.

Jain said the increase in cement prices would lead to rise in housing prices. He explained that it is the common man who ultimately bears the burden of such price hikes.

“Considering that buyer sentiment is currently low, the cement price rise defies logic,” CREDAI said

Source :indianrealtynews.com

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Saviour Builders Pvt. Ltd. is one of the leading real estate developers in Delhi NCR. The Saviour Group is the tantamount to deliver contemporary quality amid excellence and diverse innovation. It has emerged as one of the prominent entities in the real estate sector of India and is into residential, commercial and township projects in and around Delhi NCR. The Group devotes its complete dedication to reach higher and build better. With its immense hard work and loyalty, Saviour has accomplished the dream of delivering various tremendous infrastructures round the city. We intend to provide you with affordable houses in the Delhi NCR region. Some of its significant projects like Saviour Greenisle, Saviour Park, Saviour Street, Gaur City -1, Gaur City -2 and many more have created a new benchmark within the trade. Today, we have our presence at Noida, Noida Extension, Greater Noida (West) and Ghaziabad. We, at Saviour, are building homes based on trust and you are invited to build your future with us. We help you live your dream of living in style.

Posted on October 4, 2013, in Real Estate and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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