KOCHI: The construction sector in the state is facing a crisis and has come to a halt due to the increase in building material prices, increased licensing costs, and a shortage of building materials, according to industry officials.
Jolly Varghese, the state chairman of the Builders Association of India, stated that the hike in prices of essential construction materials’ and security fees for quarries and royalties have caused a standstill situation in the construction sector. “Compared to last year, there is an extra expense of `300 per sqft while constructing a building. The increasing amount is due to several reasons, from the price of goods and materials to the hike in petrol and diesel prices,” said Jolly.
The protest by lorry and Taurus truck owners in the state has also affected the sector’s smooth functioning. “The vehicle owners are protesting against the government’s fine levied on them. These heavy vehicles are given permission only for 13 to 15 tonnes. The government should conduct a study on the capacity of these vehicles and make necessary changes,” said Jolly.
Moreover, the closure of many quarries in Kerala has led to a shortage of building materials, and only 630 quarries in the state are functional now.