Cost of construction went up by 5%-7% in September quarter, says CBRE report

25 Nov 2022 , 07:37 AM

According to a study released Thursday, the cost of construction of greenfield buildings for real estate companies in India rose 5-7% year over year (Y-o-Y) in the third quarter of this year.

According to a study by global real estate firm CBRE, the pandemic’s effects, rising transportation prices, and supply chain bottlenecks drove up material costs. Eight to ten percent more was spent on labor, and roughly twenty percent more was paid for reinforcement steel. Y-o-Y in Q3 2022.

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