“While some of the major material costs had a 5% average increase in labor expenditure during 2024 during 2024, an increase in the experience of some major material costs. The increase in this labor cost effectively rejected the reduction in material costs, leading to an increase in overall construction costs.”
For high-growing housing projects (30 floors), construction cost is Rs 5,500-6,100 per sq ft in Delhi-NCR. The cost for 12-storey buildings is Rs 3,100-3,500.
Ansuman magazine, Chairman and Chief Executive Officer-India, South-East Asia, Middle East and Africa, CBRE, said, India’s construction sector remains a major pillar of economic development, which is ready to become the third largest market in the world by 2025.
He said, “From influential skyline to extensive infrastructure projects in cities that connect the country’s remote areas, the construction sector serves as an important basis for India’s comprehensive economic purposes,” he said.
The magazine said that the magazine said the magazine said that construction costs, rapid urban expansion, and constant real estate demand and stabilizing new opportunities.
“While the lack of the workforce presents challenges, the field attracts stable investments, inspired by stability, technology and high quality development,” he said.
(With PTI input)
(Tagstotransite) Real Estate
