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Depleting phase of construction industry
Posted on: 26/Apr/2014 5:18:30 PM
There are more than 30 lakh people depending on building construction either directly or indirectly. Sadly, the field is currently in its depletion phase since past eight months. This is mainly because of the increasing prices of necessary construction materials like sand, cement, steel rods, etc. This has eventually led to a situation where those relying on construction to go back to their houses jobless.
Speaking to the head of Confederation of Real Estate Developers’ Association of India, N.Nandhakumar, he said, “There are 247 businesses depending on construction industry. This includes cement and steel rod manufacturers, plumbers, electricians, carpenters, painters, hardware merchants, etc. In the recent months, sand rate is increased to exorbitant heights which is the ultimate reason for the gradual depletion of building construction. As a consequence, the need for steel rod is also reduced which in turn has left so many people jobless. More than 10000 individuals who migrated from other states to Chennai have returned to their respective hometowns owing to this scenario.
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