Builders express concern over rising raw materials price

Chennai:
Builders on Friday expressed concern over the rising prices of raw materials and demanded a regulatory body be set up to monitor the cement prices.

Addressing a gathering during the Builders Day Celebration here, B Seenaiah, president of Builders Association of India (BAI) and R Radhkrishnan, former president of trustee of BAI said that construction sector is the second largest sector after agricultures but lacks recognition from the government.
Delay in getting clearances and the rise in raw materials prices have affected the builders, said Seenaiah.

He said that a clearances for the project gets nearly 18 months during which the agreement to construct the building gets over. “This results in cost over-runs,” he said.

He said that government should bring out a policy so that builders do not suffer.

The meeting was also attended by Union Shipping Minister G K Vasan who assuered the builders that the government would  look into the issues of the construction sector. He also assured the sector to extend possible help to address their grievances.
Interestingly, the price rise index have jumped from 100 to 231 points in the last 12 years and 42 points in two years from 2011-13.

Radhakrishnan said that the Union government has earmarked 86 lakh crore for construction sector under the 12^th five-year plan. “This year it should have spent 11 lakh crore. Surprisingly, only Rs three lakh crore has been spent,” he said.