AP realtors seek cap on cement prices
Construction activity was crippled in the CRDA region of Andhra Pradesh due to halting of supply by cement companies in the State, said Gadde Thirupati Rao, secretary general of the Andhra Pradesh Real Estate Developers Association (APREDA).
He said the real estate sector was already struggling for its survival and will suffer due to shortage of cement, as well as rise in rates of cement. Addressing a media conference at Vijayawada, Rao said that the realtors had met state government officials on September 2 and requested them to initiate measures to control the rising prices of cement, but there was no response from the government yet.
Rao added that cement prices had shot up from Rs 220 to Rs 330 per bag (50 kg) in less than one month and had severely affected construction activity. He alleged the cement companies had stopped supply of cement for the past two weeks with intention of creating artificial scarcity and to make money by selling the same at exorbitant prices in the market.