THIRUVANANTHAPURAM: The construction sector, which is booming after the Covid pandemic, is being hit by soaring prices of building materials like cement and steel.
Distributors attributed the price hike to a shortage of raw materials due to the Ukraine-Russia war.
With Covid restrictions lifted, construction is happening across the state due to summer and rising prices must take advantage of that. Rising fuel prices also accelerated inflation. Compared to January this year, the price of yarn has increased by Rs 22 per kg. The price of a quintal of steel has increased by Rs 2200. At the start of the pandemic, the price of steel was Rs 45 per kg. This has been increased several times. The price of the 50 kg bag of cement has increased by Rs 70. This has affected both large and small constructions. Wages for construction workers have also increased after the Covid period. The minimum wage for a construction worker ranges from Rs 1150-1200. Previously it was Rs 950-1000.
According to the contractors, the construction cost of the building was Rs 2,000 per square foot till January and now it is Rs 2,600. ‘a year. Nowadays, only three-month contracts are signed because of this. Then the contract must be renewed.
January and now
Steel (per kg) 64 – 86
Cement 380 – 450
M Sand 24,000 -32,000
Brick load 17000 – 21000
Cold load 31000-34000