Credai Board bans cement companies

The Confederation of Real Estate Developers Association of India (Credai) NCR Board has taken a unanimous decision to stop procurement of cement from companies that have unilaterally increased cement prices during the last one month.

The company includes Ultratech, Lafarge and others.

The decision was taken at the credai AGM on Friday evening.

According to sources all the members of Credai NCR have agreed to implement this ban with immediate effect.

The decision has been taken by the apex realty body in order to help fair price determination of key raw material required for the realty sector.

The decision will take effect in the following areas: Delhi, Noida, Greater Noida, Gurgaon, Ghaziabad, Yamuna Expressway, Rajnagar Extention, Faridabad, Neemrana, Bhiwadi, and adjoining areas.