Skyrocketing prices of raw materials in Jammu and Kashmir has badly affected the construction industry and has led to an increase in construction cost. Many people have dropped their plans for construction due to ever increasing prices.
Even though government has promised to reduce the shooting prices of construction materials but even after one year prices of construction materials, prices of sand and other materials are not reduced.
During Lieutenant Governor’s address on the eve of Republic Day on January 25, 2021, Lieutenant Governor had assured the people of Jammu and Kashmir that prices of construction material are expected to fall significantly in the coming days.
J&K had initiated e- auctioning of minor mineral blocks at a large scale with an objective to put in place a transparent process for the allotment of mineral blocks.The Department of Geology and Mining had moved from the practice of “open-auctioning’ to ‘e-auctioning’ and so far 173 blocks across various districts in the Union Territory of J&K, were notified for the e-auctioning. Although e-auctioning has been started prices of construction materials have gone out of the reach of poor and lower-middle-class families.
Authorities in Kashmir have miserably failed in regulating the prices of construction materials with people being charged too much
Allegedly there is no proper checking on the rates of building materials especially sand, gravels and Bajri. Various contractors said about the situation that the construction industry which was booming a few years back has been majorly affected due to the rising cost of raw materials.