Property prices are expected to increase as high as 15 % in the coming months mainly because of the escalating cost of construction material, said S. Sivagurunathan, president, Chennai chapter of the Confederation of Real Estate Developers’ Associations of India (Credai).
During an interaction of the recently elected office-bearers of Credai Chennai with the media here on Wednesday, he said that the builders, particularly those in Chennai, had largely avoided passing on the rising input cost to home buyers. However, it had become unviable, he said.
