Ashutosh T., a techie, started building his dream home in December 2021 and is yet to complete the project. But in the intervening period, he has overshot his budget by over 40% due to inflation in construction materials.
“I have seen the rally in the prices of construction materials throughout the past six months. From the Russia-Ukraine war, coal shortage to fuel prices, everything has been blamed. To add insult to injury, even my EMIs have gone up, given that after four years, the Reserve Bank of India hiked repo rates in the first week of May,” he lamented.
