Take action to keep material prices under control: BAI

Ahmedabad: Builders Association of India (BAI) has raised issue of the hike in construction raw material prices with the central government. The newly elected body of the association made a representation to the minister of state for housing and urban affairs Kaushal Kishore and said that the houses are getting costlier for buyers due to the increase in raw material prices.
Nimesh Patel, president of BAI, said, “Prices of construction raw materials like steel and cement, and fuel prices have gone up affecting the construction industry. Increasing raw material prices have impacted the buyers at large because property prices have risen by Rs 500 per sq feet. There is a need to take steps to keep the prices under control.” The minister assured the BAI to resolve the issues. The BAI had earlier demanded to set up a ‘Cement Regulatory Authority’ on the lines of the RERA following an unprecedented hike in cement prices. The BAI also wants the industry status be accorded to the construction sector considering the size and contribution of this sector to the GDP of the country. tnn