With cement prices hitting the roof in recent weeks, middle-class families have been hit hard, with the budget for building homes zooming by a few lakhs.
Nagaraj, a resident of Vidyaranyapura, said while a fortnight back, a 50-kg bag of cement, cost Rs 360 to Rs 370, it was now Rs 390 – Rs 410. Four months back, it used to cost Rs 320 to Rs 350.
Cement manufacturers are said to be creating artifical scarcity to increase their profits. The dealers are forced to increase the cement prices.
Kishore Kumar, a resident of Vijayanagar, who is getting a two-floor building constructed, said that he has to shell out Rs 5 lakh to Rs 6 lakh more due to hike in cement price.
“The construction started four months back when cement cost Rs 340 and now it’s Rs 380 and above per bag. The total cost of my house project is Rs 30 lakh. Besides Rs 10 lakh from own resources, I have obtained Rs 20 lakh home loan,” Kumar said.
Cement manufacturers attributed the price hike to transportation and production costs. “The freight charges have increased by 35-40 per cent. Another reason is low consumption of construction materials including cement,” a cement manufacturer said.
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