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Construction cost up 5% during last one year: CIDCBy Rajesh Kumar, Section Development
Construction cost index rose five per cent during last one year even though September-February 2004-05 saw only 1.53 percent increase, Construction Industry Development Council (CIDC) said, reports agency.
The construction cost index rose 0.5 percent in Delhi in each month of the five-month review period, followed by 0.33 percent in Hyderabad, 0.32 percent in Mumbai, 0.31 percent in Kolkata and 0.29 percent in Bangalore. The average monthly cost increase was minimal at 0.28 percent in Chennai. CIDC, the apex construction body, attributed the increase in construction cost to rise in input costs like steel, cement and labour. The construction cost indices, with the base year period of January 1998, indicated the highest increase in building cost in Hyderabad, followed by Kolkata and Mumbai. The cost indices are computed for six cities that include four metros, Bangalore and Hyderabad. Interestingly, building cost in Delhi remained the lowest till last month as compared to the base year period.
Indices for road construction pointed to the highest rise in Kolkata, followed by Hyderabad and Mumbai.
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