Home Prices and Construction Costs May Rise if West Asia Conflict Persists
NEW DELHI: The ongoing West Asian conflict is starting to affect Indian real estate, as industry bodies CREDAI and NAREDCO report rising construction costs due to shortages in some building materials. They expressed concerns over potential delays in project completions caused by these constraints. According to CREDAI National President Shekhar Patel and NAREDCO President Parveen Jain, if the conflict continues, the input costs could rise, inevitably pushing up housing prices as well. “The Indian real estate sector remains relatively stable despite geopolitical tensions, as most raw materials are sourced domestically,” said Patel. However, he noted some temporary supply chain disruptions…