Builders here say easy access to loans and a fall in the interest rates were about to put flat purchases on the fast track, but the steel prices are poised to reverse the trend.
Builders said in one sq ft construction area, they put about 25 kgs of iron and steel. This means that builders will now have to spend between Rs 125 and Rs 150 more on steel because of the increase in prices.
For an average 120 square yard flat, the additional cost of steel is around Rs 20,000.
