Construction: cost doubles.
Construction costs have more than doubled since March 2008 i.e. in the last five years. Findings of a random market survey bring forth the following statistics:
Electrical and PVC fitting rates have also doubled. Similarly, polish and varnish rates and their labor charges have also doubled. Tiles and sanitary fitting rates have also almost doubled.
In residential and apartment buildings expense on cement and steel bars is estimated at 40%. Contractors constructing houses on average charge Rs 700-800 per sq ft for using normal quality material. It used to be Rs 350- 400 five years ago. If asked to use high quality material, their demand goes up to Rs 1,100-1,300 per sq ft against Rs 700 in 2008.
Wages of unskilled workers also match rates of skilled manpower. Masons, carpenters, plumbers, painters and electricians demand more due to rising cost of living.