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| Construction activity hit bysoaring |
| Spiralling prices of building materials has sparked a crisis in construction industry.
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| INDIA
, 7-June-2007
1:5:57 AM |
| Skyrocketing costs of building materials is precipitating an acute crisis in the construction industry in the city.
On an average, a bag of cement that cost Rs.135 in January last is being sold at Rs.240. The price of sand has increased by nearly 25 per cent. The industry is also facing a shortage of stone crushing units.
Civil engineers say that a nearly 40 per cent increase in the price of construction materials in the span of a year has affected building activities not only in Chennai, but across the State.
If the spiralling rise in prices continues unchecked, the impact could be severe not just for the labour-intensive sector but also for the public, according to N.Rama Rao, president, Federation of All Civil Engineers Associations of Tamil Nadu. The federation urged the Government to expedite measures to check the escalating cost.
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