Economy & Market
Realty body's NCR chapter to boycott Shree Cement due to price hikes
The NCR chapter of the Confede¡ration of Real Estate Developers' Associations of India has decided to boycott Shree Cement on complaints alleging arbitrary price increases and creating a shortage of the building material. The real estate industry body also plans to file a complaint with the Competition Commission of India.
"Shree Cement is arbitrarily increa¡sing prices and stopping supply in between, demanding a price revision, despite taking an advance. This is unacceptable to us and we have asked our members to boycott the company," a CREDAI NCR spokesperson said. The builder body alleged that manufacturers are creating a false shortage. "Through excuses such as plant not functioning properly, issues with transportation, etc., these companies are not meeting the delivery deadlines, thereby affecting the builders' constru¡ction timelines," the spokesperson said.
CREDAI's Western UP chapter has complained of cartelisation, with companies increasing prices from Rs 190 per bag to Rs 300 per bag in the past four months and delaying delivery.