CREDAI alleges cartelisation by cement industry; may move CCI

PTI Updated - September 23, 2013 at 06:32 PM.

Realtors’ body CREDAI today said cement prices have gone up by Rs 60-70 per bag of 50 kg in the last one week and it is mulling approaching CCI alleging cartelisation by cement producers.

“CREDAI will consider going to CCI seeking intervention against cartel of cement manufacturers,” the association said in a statement.

When contacted CREDAI Chairman, Lalit Kumar Jain said cement prices have gone up by about Rs 60-70 per bag across the country in last one week.

“We feel that there is a cartel. We are considering moving CCI. We are currently taking legal advice,” he added.

“Cement prices have increased from Rs 210 to Rs 275 over the past few days in Pune and indications are that they will go up further by Rs 50 per bag in the near future,” Jain said.

He said rates have gone up by Rs 60-70 per bag across the country.

“A rise of Rs 50 per cement bag leads to an increase in cost of construction by approximately Rs 20-25 per sq ft. We are concerned about this sudden price rise,” he said.

Jain said the increase in cement prices would lead to rise in housing prices. He explained that it is the common man who ultimately bears the burden of such price hikes.

“Considering that buyer sentiment is currently low, the cement price rise defies logic,” CREDAI said.

Published on September 23, 2013 13:02