Real estate developers body CREDAI's NCR chapter has decided against buying cement from Ultratech and Lafarge, alleging that the firms are indulged in cartelisation and malpractices.
Real estate developers body CREDAI’s NCR chapter has decided against buying cement from Ultratech and Lafarge, alleging that the firms are indulged in cartelisation and malpractices.
“This decision has been taken by the apex realty body in order to help fair price determination of key raw materials required for the realty sector,” the Confederation of Real Estate Developers Associations of India (CREDAI) said in a statement.
The announcement to stop the procurement of cement from these companies was made at the AGM yesterday.
“We have decided to boycott Ultratech and Lafarge, as they have not delivered the cement to our members at the decided price, despite taking advances,” CREDAI National President Getamber Anand said.
He also said if situations did not change, then they can also go on national strike.
Echoing the similar views, CREDAI NCR President Manoj Gaur said, “There are about 220 members of CREDAI in the national capital region and all have unanimously decided to stop procurement of cement from Ultratech and Lafarge.”
Gaur added that these companies have increased cement prices by 40 per cent and it seems they are involved in cartelisation.
All members of CREDAI NCR have agreed to implement this ban with immediate effect.
CREDAI NCR is one of the largest chapters of the organisation and all leading developers in the region are its members.
CREDAI NCR has about 220 members from Delhi, Noida, Yamuna Expressway, Gurgaon, Ghaziabad, Rajnagar Extention, Faridabad Neemrana, Bhiwadi and other adjoining areas.