Credai reports 40-50% hike in cement, steel prices; alleges cartelisation

Realtors' apex body Credai said on Saturday that cement and steel rates had increased by 40-50 per cent in the last few weeks despite the lockdown and alleged price cartelisation and unfair trade practices by the manufacturers.

The association has written a letter to Minister of Housing and Urban Affairs Hardeep Singh Puri seeking his intervention in the matter.

"We would like to bring your attention to the cartelization by the cement and the steel manufacturers by imposing a sudden increase in their selling price," Credai said in the letter.

Across various states, there has been an increase of Rs 100-250 per bag