The 50-kg cement bag rate rose to Rs1,043 from Rs738 on Dec 30, 2021 while per tonne steel bar prices increased to Rs224,500-225,500 from Rs194,500-197,500 a year ago.
Steel bars, which hold a 40-45pc share in the total cost of construction of a high-rise project, hit an all-time high at Rs235,000 per tonne in June 2022.
The massive rise in cement and steel bars has jacked up the construction cost of hi-rises and housing projects. “This is a cost-push price increase in cement rather than demand-pull because of thin construction activities due to ongoing winter and post- floods situation,” a cement maker said, attributing the price hike to rising coal prices, power and diesel rates and general inflationary trend.
