Real estate developers warn that it would lead to an increase in apartment prices, while the cement industry attributed it to an increase in their input cost. The rise in cement prices has been a politically sensitive topic and both parties have been engaged in a war of words over the issue in recent years. In turn, the cement manufacturers alleged that the developers should bring down their inflated apartment prices first. Builders claim the retail cement prices have increased by 13% from ₹460 in May to up to ₹520 per 50 kg bag in June. “A ₹50 increase in the cement price will result in a ₹20 hike in cost per square feet.

Source: The Hindu June 12, 2021 19:07 UTC