CREDAI seeks TN govt's intervention on rise in cement prices

: Realtors' body Confederation of Real Estate Developers' Associations of India has sought the Tamil Nadu government's intervention on the 36 per cent hike in price of a cement bag.

The increase has affected especially the low and middle-income housing projects, president of CREDAI- Chennai W S Habib said.

The price of cement bag in Tamil Nadu has increased 36-44 per cent recently, he said.

"The housing and real estate sector is the biggest demand driver of cement, accounting for 65 per cent of the total consumption. The other major consumers of cement include public infrastructure at 20 per cent, industrial development at 15 per cent," he said in a statement.

Noting that 30,000 construction projects comprising residential and commercial were underway in the state, he sought the intervention of government to take steps to curb the cement price.