Good time to buy property: CREDAI Chennai president

CHENNAI: The real estate industry in Chennai is witnessing a good demand on all fronts from first-time buyers post-pandemic, claimed Sivagurunathan, president, CREDAI Chennai. At a press meet, he said “This is the right time to buy a piece of real estate. The low prices advertised by builders today will not be seen in the coming months.”

With materials alone accounting for nearly 65% of the total construction cost, it is a matter of concern for builders in general as materials constitute generally of steel, sand, cement, diesel, equipment, and water. In the past four years, steel per tonne to cite an example has increased by nearly 65% in price while, bricks jumped 200 per cent, he said.