Hyderabad: The prices of new flats are rising in the twin cities of Hyderabad and Secunderabad due to the increase in the cost of the building materials.
Both the cities are witnessing a rise of 15-20% in prices of new residential flats.
Spike in diesel prices impacts real estate sector
After the corona pandemic last year, there was some kind of progress seen in the real estate sector but due to the sudden increase in the prices of diesel, the transportation charges have also increased taking a hit on the sector again.
Builders said that there is a rise in the prices of 78 building materials which has to be passed on to the customers. Steel prices have increased by Rs.16-20 per kg and a cement bag cost which was around Rs.220-250 is now being sold for Rs.320-350.
According to the Builders’ Association, there is an increase in prices of bricks, sand, and concrete also and there is a possibility it could further increase in the coming days. Builders’ Association said from April