{"id":32161,"date":"2022-03-29T15:29:14","date_gmt":"2022-03-29T09:59:14","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-realty-construction-cost\/"},"modified":"2022-03-29T15:29:14","modified_gmt":"2022-03-29T09:59:14","slug":"biz-realty-construction-cost","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-realty-construction-cost\/","title":{"rendered":"Average construction cost up 10-12 pc in last 1 yr; may rise further by 8-9 pc: Colliers India"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2419140488\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Mar 29 (PTI) The average cost of construction for housing projects has risen 10-12 per cent over the last one year due to the rise in prices of raw materials like cement and steel, and may rise further by 8-9 per cent by December, according to property consultant Colliers India.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3754121624\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> &#8220;Over the last one year, developers\u2019 average cost of construction has risen 10-12 per cent, owing to a higher input cost due to supply-side constraints. The cost of key materials like cement and steel have risen over 20 per cent yearly as of March 2022. These constitute a predominant share in the total cost of construction,&#8221; Colliers said in a statement.<\/p>\n<p> The consultant said that developers, so far, have been cautious about increasing prices as the market was recovering from the aftermath of COVID-19.<\/p>\n<p> However, developers have now started feeling the pinch of rising cost and they have started reviewing their pricing strategy, it added.<\/p><div class=\"trade-content_5\" id=\"trade-1461133751\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;With rising material cost, developers will be compelled to increase prices as construction materials account for about 2\/3rd share in the total cost of construction. Developers have already been operating on thin margins over the last few years,&#8221; Colliers India CEO Ramesh Nair, said.<\/p>\n<p> The rising cost will impact developers in the affordable and mid-market segments relatively more as they are already operating on lower margins, he added.<\/p>\n<p> Nair further said, &#8220;With wholesale price inflation (WPI) and material cost, both seeing a double-digit rise, the cost of construction can rise by a further 8-9 per cent by December 2022.&#8221; \t Colliers India said that the average cost of construction of residential properties rose to Rs 2,300 per square feet in March 2022 from Rs 2,060 per square feet a year ago.<\/p>\n<p> The data of average cost of construction excludes GST. The cost is\u00a0for a standard premium residential building of 15 floors.<\/p>\n<p> Colliers, a leading diversified professional services and investment management company, has operations in 64 countries, including India. PTI MJH  SHW SHW<\/p>\n<div class=\"trade-after-content\" id=\"trade-1891559392\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Mar 29 (PTI) The average cost of construction for housing projects has risen 10-12 per cent over the last one year due to the rise in prices of raw materials like cement and steel, and may rise further by 8-9 per cent by December, according to property consultant Colliers India. &#8220;Over the last [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-32161","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Average construction cost up 10-12 pc in last 1 yr; 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