New Delhi. Iron and iron ore prices have skyrocketed in the international market. The effect of which is clearly visible in India as well. In two months, the price of cage in India has increased by 20 to 25 per cent. Along with iron, there is an increase in the price of other items related to construction. Apart from iron, the prices of cement, Badarpur and road are also increasing by 10 to 15 percent. According to experts, due to the increase in the price of iron, the cost of a room has increased by up to 30%. Let us also tell you that with the increase in the price of iron, how much has been spent in the construction of your home.
Also read: Unemployment in India: 73.5 lakh people lost jobs in April amid the second wave of Kovid
Iron prices reached the sky
Iron has once again reached the sky. Iron ore has reached its all-time high in the international market at $ 230.56 per tonne. According to experts, between the economic recovery at the international level and better employment figures in the US and increasing demand from China, there has been a tremendous rise in the price of iron ore in the past few years. According to experts, the price of iron may increase further in the coming time.
How much iron cost in India
If you talk about India, then in two months, the price of iron bars has increased by more than 20 percent. According to the information, in the month of February, the iron bars which were getting Rs 55 per kg, while the same iron has now come to Rs 75 per kg. In the month of December 2020, there was an increase in the price of iron. After which there was a drop in the price of iron. Now once again the rise in the price of iron has increased the difficulty of the common people.
Increase in the price of construction materials
Along with iron, the prices of cement and Badarpur have also increased. If the figures are to be believed, two months ago, the cement bag was worth Rs 320, which has come down to Rs 400 at present. On the other hand, 10 percent increase has been seen in the price of Badarpur. Also, the price of sand and sand is also increasing by 10 to 15 percent. Labor costs have also seen a 20 per cent increase during the Kovid period. This means that with the increase in the price of iron, the construction cost has increased.
30% increase in cost of a room
Suppose two months ago the cost of a room of 10 * 10 costs one lakh rupees, then the present time has increased by 30 percent. With the increase in the price of iron, cement, Badarpur and the rise in the price of sand and sand, it will now cost 1.30 lakh rupees to build this one room. That is, in two months, one room construction cost will increase by 30 thousand rupees.
What do you know
Anuj Gupta, Vice President (Commodity and Currency), IIFL, said that due to low supply and high demand, the price of iron ore is increasing. The effect of which is being seen in the price of salmon associated with sariya, cement and other constructions. Real estate expert Rishi Singh said that the price of iron has increased the builder’s construction. Due to which the price of the flat has increased from Rs 500 to Rs 1000 square feet.
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