Water Shortage in State Effects Real State Projects

Published on: 30 Apr, 2013
Published under: Ernakulam District News, Kerala Real Estate Updates

30 April 2013

Kerala State is indulging with water scarcity this year which has adverse effect on many sectors and Real State is one of them . The impact of the water crisis will be felt more in the real estate sector as the increase in cost will be passed on to the customers. As per experts, the shortage of water will only intensify in the coming days, which will make things worse. In the construction sector, where the cost is already high owing to rise in building materials, this will lead to increase in the project price.

Alex P Cyriac, state chairman of Builders Association of India, said that earlier they were getting water free of cost but now people are charging money even for well water.“About a year ago a water tanker with 10,000 litre capacity would cost only `800 to `1000, but now the builders have to shell out Rs 2000 for water with the same capacity. Apart from skyrocketing prices of construction materials this is another factor which will add to the total project cost. Customers will be the ultimate losers because of the water crunch,” he said.

The population in and around Kochi is expected to grow from 18.19 lakh in 2001 to 25.99 lakh by 2021. Experts point out that areas like Marine Drive, Kakkanad, Edappally and Seaport-Airport Road region are facing acute water shortage in the real estate projects.

Source – http://newindianexpress.com/cities/kochi/Real-estate-sector-affected-by-water-shortage/2013/04/30/article1567441.ece

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