GULF TENSIONS PUSH UP STEEL AND CEMENT COSTS FOR MMR PROJECTS

Continuing tension around the Strait of Hormuz has disrupted shipping and raised freight and fuel costs, feeding through into steel and cement prices for Indian developers. Industry estimates put the added cost to Mumbai high-rise construction at roughly Rs 50 per square foot, with comparable pressure in Delhi-NCR and Bengaluru. UNVERIFIED: exact current percentage increases vary by source and are not independently confirmed this week; treat specific figures with caution. BACKGROUND: The State's concession reducing stamp duty on flat allotments to existing members under self-redevelopment from the earlier 5-7% slab to a flat Rs 1,000 was introduced by Government Resolution in July 2023, not this week - readers should note this is an established benefit, not new policy, and continues to apply to self-redevelopment societies today. BRIEF: MHADA continues to extend its premium-reduction facility under the G.R. dated 14 January 2021 to further ongoing redevelopment projects across Mumbai, most recently for buildings in Chembur, Borivali and Warli. BRIEF: A statewide tree-plantation drive has been linked to MHADA housing projects as part of the authority's green-housing push for new developments.

स्टील व सिमेंट किमतीत वाढ; विकासक करार पुनरावलोकन करत आहेत