Ahmedabad, 3 July, 2014

The Gujarat Institute of Housing & Estate Developers (GIHED) has today in a statement voiced concern over Rs. 50/bag hike in cement prices.

GIHED in its statement said that the hike has been imposed without any reason. The cement industry is trying to take construction industry as hostage by imposing price hike without any changes in tax.

Cement contributes 20-25% to raw material used in construction, and therefore cement price hike directly affects the cost of construction. When cement companies hike price, the ongoing projects face trouble and ultimately the property buyers do suffer.

The only reason behing cement price hike is more and more profit making. The price hike will adversely affect all ongoing construction activities including infrastructure projects and affordable housing projects too.

GIHED has demanded strong actions against cement companies under MRTP act including fine. GIHED has also requested government to take all necessary steps to prevent cement price hikes in future.

(In video, CREDAI protesting cement price hike)