Pune, May 24 -- A leading real estate developer Tushar Kevate has expressed concern over the growing uncertainty in the construction industry, warning that rising inflation and increasing costs could create serious challenges for the sector over the next two years.
Speaking to mediapersons on Sunday, Kevate said the impact of the ongoing Gulf conflict is no longer limited to fuel price hikes in India, but is now indirectly affecting several industries, including construction.
He pointed out that shortages and rising prices of gas have led to an increase in tile prices and supply issues, further pushing up construction costs.
According to him, the prices of key construction materials such as steel and cement have been continuously rising,...