Dream House might remain a Dream!

Are you finally going to build that dream house? Here is some bad news that might lead you to reconsider your decision.?

Construction materials like cement and steel make up the basic requirement of construction. And the prices of these materials have spiked through the roof.

But why? With the Ukraine-Russia war and China on lockdown, many real estate developers have hiked their residential prices which will come into effect from April. The cost of construction can rise by 8-9 percent more by December 2022, real estate experts said. Inflation measured by the wholesale price index and construction material costs is increasing at a double-digit pace.

Keep in mind that not all developers are affected in the same way. The increment in prices varies according to the stage of the development.?

Now you may think of postponing certain construction events Tull the prices drop again. However, experts state that the damage caused in the Ukraine-Russia war will require rebuilding which again requires the construction materials once again putting stress on the demand. So the rise in prices will persist for a further duration of time.?

On a lighter note, for the people who have finally decided and are making progress on their dream projects, it would be redundant to stop now. Go all the way and complete what you started.