Downfall in Gujarat real estate market
The realty sector in Gujarat is facing a downfall with the steady price raise of construction material and shortage of skilled labour. Experts say that the construction projects across Gujarat are getting either delayed, cancelled or stalled from past a week.
Same is the scenario faced by real estate markets in cities like; Vadodara, Surat, Ahmedabad, Bhavnagar and Rajkot. The cost of cement has raised nearly four times in this year. The Gujarat government in collaboration with the cement companies is held responsible for the constant cement price hike.
Also, with the construction rates raising constantly people are showing dis-interest in buying property. Builders in the state are also facing tough time to complete their construction projects as the spiralling costs of construction material are pressurizing them.
Source: Economic Times
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