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Cement price surge hits struggling real estate sector

By News Desk

May 20, 2024 08:45 PM


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The real estate sector, already grappling with challenges, faces a new hurdle as cement prices soar by Rs 30 at the start of the week, reported 24NewsHD TV channel Monday.

The hike brings the retail rate to Rs1230 per bag, triggering widespread discontent among cement dealers.

The increase, attributed to rising electricity costs, is seen as a significant blow to the property and real estate businesses, which are currently enduring a downturn.

Dealers warn that the escalated prices will exacerbate the sector's woes, as companies pass on the financial burden to builders and ultimately, consumers.

This development raises concerns about the potential slowdown in construction activities and its ripple effects on related industries.


News Desk


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