Building your own home involves hard work and careful budgeting. You strive to ensure the best construction within your budget. But what if the prices of certain materials increase unexpectedly? Such fluctuations directly impact your budget and may disrupt your plans. We are sharing this information because in the coming days, the process of building a home might become more expensive. Let’s delve into the details of this news.
Anticipated Price Hikes
According to a report, the cost of home construction is expected to rise in the near future, particularly due to potential increases in cement prices. Although there has been a decrease in demand for cement due to ongoing elections, prices might see a significant hike in the upcoming months. The report suggests that cement prices could rise by an average of Rs. 10 to Rs. 15 per bag in the coming month.
Recent Price Trends
In recent times, there has been a noticeable decrease in cement prices, benefiting consumers. Over the past five months, there has been a decline in cement prices. In March, quarterly average cement prices were 5-6% lower compared to the previous quarter, particularly in the markets of South and East India.
Regional Price Changes
According to the report, the Southern Indian market may witness the highest increase in cement prices, with prices potentially rising by Rs. 30 to Rs. 50 per bag in the coming month. Similarly, prices in the Central Indian market could increase by Rs. 15 to Rs. 20, in the Northern market by Rs. 10 to Rs. 15, and in the Western market by Rs. 20 to Rs. 25 per bag.
These anticipated price hikes could impact construction budgets and overall project costs for individuals planning to build their homes in the near future.