Representative image | Photo: Mathrubhumi
Kunnamkulam: The construction industry urgently requires a government intervention to ease the heat of skyrocketing material prices.
Many are forced to cease the construction works as some of the materials witnessed an increase of 30 per cent in the last six months. The prices of plumbing and electrical items saw a 40 per cent increase while the prices of painting related items hiked by 30 per cent in the last two weeks.
As bill discount mechanism ended, entities have been facing the crunch. The difference between estimates with clients and actual costs are increasing. The contractors will be forced to bear the additional cost from the inflation if the payment agreements are already made.
Meanwhile, there are many reasons attributed for the increase in prices. It includes low supply and availability of raw materials for various items.
Here is the price list of some important building material and their rates two weeks before (in brackets):
- Iron bar per Kg: Rs 73.50 (Rs 70)
- 8-inch-long concrete brick: Rs 38 (Rs 36)
- Cement, per sack: Rs 450 (Rs 380)
- 6-12 mm crushed gray metal per unit : Rs 3,885 (Rs 3,330)
- M-sand per unit: Rs 4,935 (Rs 4,200)
- Regular tile per sq.ft: Rs 48 to Rs 52 (Rs 42 to Rs 44)
- Contractors’ rate per sq,ft: Rs 2,000 to Rs 2,100 (Rs 1,400 to Rs 1,500)