Steel makers hike prices of HRC, CRC by up to Rs 4,500 per tonne
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Last Updated: May 04, 2021, 08:46 PM IST
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After the price revision, a tonne of HRC will cost Rs 67,000 while the buyers will get CRC for Rs 80,000 per tonne.
PTI
Domestic steel makers have hiked the prices of Hot Rolled Coil (HRC) and Cold Rolled Coil (CRC) by Rs 4,000 and Rs 4,500 per tonne, respectively, industry sources said on Tuesday.
After the price revision, a tonne of HRC will cost Rs 67,000 while the buyers will get CRC for Rs 80,000 per tonne.
The price revisions have been made in the last three days, the sources said.
Builders under pressure to repay loan instalments
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Slack demand amid pandemic forces many to cut prices
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A view of the apartments that are under construction or ready for occupation, at Mangalagiri near VIjayawada.
Slack demand amid pandemic forces many to cut prices
Amidst the second wave of COVID-19 pandemic, builders are worried whether they will be able to pay at least the interest on the loans taken by them. Many of them, industry sources say, are selling away the apartments at cost price or with meagre margins to pay the loan instalments.
Industry sources say that banks had liberally sanctioned loans and many construction projects took off between Vijayawada and Guntur in a grandiose manner as there was a good response from buyers. The sentiment, however, nosedived with the government announcing its plans to shift the Capital.
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Realty developers step up Covid-19 precautionary measures at construction sites
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Some developers have already been making efforts to vaccinate workers, provide food and shelter at the site itself and also make arrangements for the workers’ families by providing a creche in order to avoid a repeat of reverse migration witnessed last year.
Agencies
The government of Maharashtra on Sunday night announced that construction will be allowed only for projects where labourers are living on site with restriction of movement outside, except for the construction material movements.
Real estate developers are stepping up existing precautionary measures to comply with Maharashtra government’s partial lockdown directives to ensure safety of construction workers at their sites.
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In a setback to the real estate industry as well as flat buyers, the state government on Wednesday decided not to extend the cut on stamp duty on property registrations. Ready reckoner (RR) rates, though, remain unchanged for the 2021-22 financial year.
The slashing of stamp duty in Mumbai from 5% to 2% from September to December 2020, and 3% till March 31, 2021, had boosted residential realty sales.
On a brighter note, the 1% stamp duty waiver for women home buyers, as announced in the state budget on March 8, would come into effect from Thursday. The concession is only for residential units and not for land. Besides, the concession will not be applicable if there is a male co-owner of the unit.