Andhra Pradesh - Vijayawada   

Hike inevitable, say builders

Staff Reporter

VIJAYAWADA: Builders in the city have indicated a hike of 10 to 20 per cent in the prices of flats in apartment complexes in the coming months. However, the hike will not affect those who have already entered into an agreement with a builder.Addressing a press conference on Tuesday, A.V. Subba Raju, president of the Builders Association of Vijayawada, said hike had become inevitable given hike in the prices of land and raw materials. "In the present scenario, builders are not in a position to get back their investments. General public is requested to understand the circumstances that forced us to increase the prices."

Mr. Raju said despite Union Finance Minister P. Chidambaram's announcement that there would be a drop in cement prices, the prices continued to be high.

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