There is a good news for those who are building their own house. The cost of building a house may come down in the coming months. Rating agency Crisil believes that even after good demand, cement prices may come down by 1 to 3 percent in the coming days. Right now cement prices are at a record high level.
the cost of cement is so high
In a news report of Live Mint, Crisil has been quoted as saying that cement prices may come down by 1-3 per cent during the current financial year. Before this, during the last 4 years, an annual increase of 4 percent has been seen in the price of cement. Due to this, the prices of cement are at their highest level. During the last financial year, cement prices had created a new record and the price of a 50 kg bag had reached Rs 391.
Cement industry is getting help
Crisil says that competition in the cement industry has intensified. This is the reason that some softening is being seen in the prices of cement and a reduction is expected in the coming days as well. Apart from this, the cost reduction on the energy front has also helped. During the fourth quarter, cement companies tried to capture more and more market share, due to which there was some softening of prices in early 2023.
Slowdown in March quarter
According to Crisil, during the January-March 2023 quarter, average cement prices decreased by 1 per cent and came down to Rs 388 per bag. However, even after this, the prices are still close to the high level. It has also been said in the report that this is the first time in many years that during the months of April and May, companies have not increased the prices of cement before the monsoon.
Due to these reasons the price will be low
In the coming days, CRISIL has expressed hope that due to softening of Australian coal prices, reduction in international and domestic pet coke prices, etc., cement prices may come down. The cement industry is also getting support from the expectation of reduction in diesel prices.
This way the cost of construction will be less
If this report of Crisil proves to be true, then the construction of dream home may become easier in the coming days. The biggest cost in building a house comes from the construction materials. Every time such a trend is seen during the monsoon season that the prices of rebars are also less. In such a situation, it is clear that in the coming days it is going to be cheaper to build your house.
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