Much like Singapore, who are facing a construction cost crisis, and Dubai, which has access to what amounts to a slave labor force, India is facing the problem of increasing construction material costs along with falling real estate prices meaning corners must be cut somewhere. Singapore has just relaxed their labor laws in an attemopt to follow Dubai’s lead, but labor is already cheap in India, so pre-fabrication is the direction chosen by many developers. Akruti City plans to use pre-fabricated slabs in future buildings, saving 15-20% over manually-laid slabs. They are also exploring new techniques to build walls and pillars that could save up to 20%.
More on Falling Property Prices and Increased Construction Costs in India
We thought it was time to take a look at the goings-on in the property world. Who is saying what? Which markets are looking good and which are headed south? What’s happening on other property blogs?