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TMT steel prices in Coimbatore have jumped sharply this month, putting fresh pressure on builders, contractors, and housing projects across Tamil Nadu. Industry members say rates are up about 20% compared with last month, translating to roughly ₹10–₹12 more per kg and a move from around ₹62,000 to ₹72,000 per tonne.
While cement and bricks have stayed relatively stable, the steel surge is forcing project budgets to be reworked—often adding close to ₹50 per sq ft. The squeeze is most painful for ongoing jobs and fixed-price contracts, where firms must absorb the extra cost, tightening margins and slowing site progress.
Builders also say unpredictable swings make it harder to quote accurately at the bidding stage and to explain later cost additions to customers. Associations are urging the Centre to consider a dedicated council to monitor and curb extreme construction material price fluctuations. If high prices persist, the sector expects more contract renegotiations, wider use of escalation clauses, and a gradual uptick in property prices.
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