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India: Input costs rise; real estate to be dearer

Posted on 19 September 2011

Property analysts’ wisdom is that with less demand, property prices will drop in the next few months. But developers say rising costs of borrowing and construction inputs has put pressure on their margins that a 10-15% increase in property prices by this year-end is inevitable.

Normally, the price escalation is about 3-4% per annum. But in the past six months, input costs have risen by 7%. “The average cost of construction has increased by Rs 150 per sqft due to a sharp increase in cement and steel prices. We have to pass on the cost to customers,” said Sushil Mantri, president of Confederation of Real Estate Developers Association of India (Credai)-Karnataka……………………………………….Full Article: Source


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