Apartment prices increases as cement cost goes up

The prices of apartments are likely to go up due to the rise in cement and steel prices, according to Confederation of Real Estate Developers' Association of India (CREDAI) Tamil Nadu president Suresh Krishn.

He said that the price of steel has gone up from Rs 45 a kg to above Rs 70 a kg, while cement prices have gone beyond Rs 500 a bag, thus impacting the construction cost. Builders Association of India (BAI) State treasurer S Rama Prabhu also said that the price of steel and cement has gone up and it would increase the cost of construction for an individual builder by 20 per cent.