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India: Real estate industry facing twin challenges

Posted on 20 December 2010

From Thehindu.com: The real estate industry is facing the twin challenges of rising cost of construction materials and a shortage of labour, which is being increasingly felt with the city expanding.
Work on almost 50 per cent of the upcoming residential projects in and around Chennai have either been temporarily suspended or progressing at a slow pace due to the increase in the price of construction materials and labour shortage, says P.Manishankar, president, Federation of Tamil Nadu Flat and Housing Promoters Association……………………………………….Full Article: Source


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