"Developers have been under pressure to raise prices as cost of construction materials have seen a double-digit surge in recent times. As per Colliers initial estimates, the cost of construction was likely to rise by a further 8-9% by the end of 2022. In this scenario, the government’s intervention to control this rise by rationalizing duties and taxes on key inputs is timely and is likely to have a positive trickledown effect to the end consumers. said Ramesh Nair, CEO, India & Managing Director, Market Development, Asia, Colliers.
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