Credai moves CCI against cement firms

Q: Credai has filed complaint with fair trade regulator CCI against cement manufacturers complaining manipulation in prices of construction material that have risen by up to 40% in last 2 months.

Veena K,

6th October 2015

Real estate News in Mumbai

credai

cma

cci

competition commission of india

confederation of real estate developers

cement manufacturers

cement manufacturers association

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Replies (3)

In that way the cost of the flat increases. If the builders will get the cement or other construction materials at higher prices, they will increase the flat cost and common people have to suffer. We all know that the realty sector accounts for nearly half of the cement demand in the country. And the demand for cement has declined in view of huge slowdown in real estate sector.

Kasturi, Noida

6th October 2015

Comment

This is really unfortunate and not in public interest. We all want to participate in the "Housing for All" vision of the government, but we are unable to bring down our costs of construction to a level which is affordable to the common man. I think Credai has taken the right step to stop the manipulation.

Ayesha Bibi, Kochi

7th October 2015

Kuch mahino se aisa kyon feel ho raha hai ki humare desh me vi kuch achcha ho raha hai....Chalo der se hi sahi magar jage to......

Earlier, Credai has pointed out that the cost of raw material used in manufacturing cement has come down from January 2015 to September 2015 but the companies never passed this benefit to their consumer.

Sukhpreet, Delhi-NCR

6th October 2015

Comment

Credai also alleged that the cement manufacturers were involved together in controlling supply and prices. In Delhi-NCR, the price of cement risen to about Rs. 300 per bag from Rs. 210 a bag on August 1st.

pradyumanapte, Mumbai

6th October 2015

It is really very unfair that the cement manufacturers involved in practices that control the prices of cement. Earlier, CCI has warned Cement Manufacturers Association but it is unfortunate that they seem to be continuing with their price and market manipulation.

Sukhpreet, Delhi-NCR

6th October 2015

Yes, last month NCR's Credai division had decided to stop buying cement from companies like Ultratech and Lafarge for one-sidedly increasing cement prices in last one month. To control the cost of construction and make home prices work for the common man, the Credai has moved the CCI against cement manufacturers who have been extremely increasing the cost of cement.

pradyumanapte, Mumbai

6th October 2015

Comment

Ohhhh.....that's why the stock price of the company was bearish few days back. Whether you accept it or not but in spite of the low demand, the prices of cement have jumped in major cities across India in the last couple of months.

Chintakpujara, Mumbai

6th October 2015