Real estate developers body CREDAI´s NCR chapter has decided against buying cement from Ultratech and Lafarge, alleging that the firms are indulged in cartelisation and malpractices. The announcement to stop the procurement of cement from these companies was made at the AGM.
Echoing the similar views, CREDAI NCR President Manoj Gaur said, ¨There are about 220 members of CREDAI in the national capital region and all have unanimously decided to stop procurement of cement from Ultratech and Lafarge.¨
Gaur added that these companies have increased cement prices by 40 per cent and it seems they are involved in cartelisation. All members of CREDAI NCR have agreed to implement this ban with immediate effect. CREDAI NCR is one of the largest chapters of the organisation and all leading developers in the region are its members. CREDAI NCR has about 220 members from Delhi, Noida, Yamuna Expressway, Gurgaon, Ghaziabad, Rajnagar Extention, Faridabad Neemrana, Bhiwadi, and other adjoining areas.