NEW DELHI : Realtors' body Credai on Saturday said cement and steel rates have increased by 40-50% in last few weeks despite the lockdown and alleged price cartelisation and unfair trade practices by the manufacturers.
The association has written a letter to Hardeep Singh Puri, minister of housing and urban affairs, seeking his intervention in the matter. "We would like to bring your attention to the cartelization by the cement and the steel manufacturers by imposing a sudden increase in their selling price," Credai said in the letter.
Across various states, there has been an increase of Rs100-250 per bag cement and about Rs2,000-2,500 per tonne of steel, it added.