Cement Industry Market size
As per the data 67% of the total cement is required for the building of houses which means housing sector is driving the demand of cement in the country. Beside this 13% of the cement consumption is happened for the infrastructure sector, 11% for the commercial comes and 9% for the industrial construction. Overall India's total cement production capacity is more than 425 million tons as per the data of September 2017, we are assuming that cement industry will grow at the rate of 6 to 7% in the year 2018 because government is focusing on infrastructure development in all the major cities.
The supply of the cement is captured by the top 20 cement companies which contribute almost 70% of total cement production. 210 cement plants produce 350 million tons of cement every year and out of which 77 cement plants are located in Andhra Pradesh, Rajasthan and Tamilnadu. So in these 3 states cement industry is focusing and generating lots of job for the people living there Investment
As per the data release by department of industrial policy and promotion, cement industry has attracted foreign direct investment of worth rupees US 7.2 billion in the last 17 years.
Some of the prominent investments that happened in the Indian cement industry are
Emami Limited, which is the fastest growing FMCG Company has a complete plan to invest around 8500 crore to increase the production of cement from 2.4 million tones (MT) to 15-20 MT in the next three to five years.
Plan for Future
As per the experts in the upcoming 10 years, India could become the main exporter of clinker and grey cement mostly to the countries of Middle East Africa and other developing nations of the globe.
Also the plants which are located near the ports such as some Gujarat and Visakhapatnam plants has an extra advantage for export and it will take less amount a logistics involved in the transportation of cement.
Also as per the experts and data, because of increasing demanding in housing, commercial sector and industrial construction, the cement industry is planning to produce 600 million tons of cement by the year 2025
In the lust of top 10 cement companies in India we have included
Gujarat Ambuja Cements
The journey of the ACC Limited started in the year 1936. Company has a dedicated team of professionals that work to find innovative technology that can help company to manufacture cement with low cost.
ACC Limited follow steps from mining to sales. ACC has installed pollution control equipment before the government made the pollution control law. It was the first company that has worked for the Environment protection under his corporate social responsibility. Today every cement plant of ACC limited has pollution control equipments. ACC Limited is committed to take initiative and the corporate social responsibility area and recently CIA ITC Centre of excellence and sustainable development has honour ACC Limited with outstanding accomplishment award.
Employees or the strength of organization and to enhance the skills of employees company has shut up two different department that provide technical knowledge to engineer graduates and diploma holders.
Heritage of ACC limited
ACC Limited hazard amazing story started from the merger of 10 cement companies in the year 1936 till the time ACC become leading player of cement industry. Below mention are the milestones achieved by the company
In the year 2017 company has received the prestigious CIA ITC sustainability award for outstanding achievement a in the same year company is honored with silver award for Excellence and financial reporting by ICAI.
Interview 2016 company has received three awards that include ACC sustainable Plus Platinum Label of CIA ITC Centre of Excellence, Silver award for Excellence in Financial Reporting
- Establishment – 1936
- Type - Public company
- Listed in - BSE & NSE
- Headquarters - Mumbai,India
- Employees - 10,000
- Website – www.acclimited.com
2.Gujarat Ambuja Cements : Gujarat Ambuja Cement or Ambuja Cement is by Indians for its unmatched strength, quality and reasonable price. This Cement is among preferred brand of cement in Western parts of country. It was established in the year 1986 and in just span of 10 years; they have become the best selling cements in many parts of the country. Later, this Company became part of International Cement Company LafargeHolcim. Ambuja Cement's current cement capacity is of 29.65 million tons, which consists of PPC and OPC cements. Along with producing regular cements, their Research and Knowledge Centers always strive to produce newer and better products. Recent one is Ambuja's water conserving roof cement. This Cement is specially made to give strength to roofs, where high amount of rains and humidity is a problem. They have also won many awards and accolades for their outstanding work in cement industry. The recent are FICCI CSR 2016 award, CII Sustainability Award 2016, Rajasthan Energy Conservation Award 2016, and Chhattisgarh Sustainability Award 2016 for their Chhattisgarh Facility etc.
- Establishment – 1983
- Type - Public company
- Listed in - BSE & NSE
- Headquarters - Mumbai,India
- Revenue - 76378.1 million
- Website – www.ambujacement.com
- Establishment – 1946
- Type - Private Sector
- Listed in - BSE & NSE
- Headquarters - Tamil Nadu ,India
- Employees – 7500
- Website – www.indiacements.co.in
4. UltraTech Cement is a leading cement manufacturing company of India that has been placed at 4th position in the list of top 10 companies of India. Established in the year 1987 has achieved tremendous success in the cement industry and increase the production by 500 times. Company is a part of prominent Aditya Birla Group. Company has manufacturing units which are equipped with modern technology that has been manufacturing products like portland cement, white cement, ready mix concrete etc.
UltraTech Cement has a huge manufacturing unit for the grey cement which is the annual production capacity of 93 million tons. Production of concrete - UltraTech cement has more than hundred production units, situated in35 States across Pan India.To meet the growing need of white cement, company set up plant several production capacity of 0.56 mtpa of white cement. They are selling the white cement under the brand name of Birla white.
- Establishment – 1987
- Type - Public
- Listed in - BSE & NSE
- Headquarters Mumbai, Maharashtra, India
- Parent Company - Grasim Industries
- Website – www.ultratechcement.com
5. Fifth in the list is Jaypee Cement.
Jaypee cement is another prominent cement manufacturing company of India and presently it is third largest company. Annual Production capacity of Jaypee cement is 29 MTPA.All the production plants of Jaypee cement has been following quality guidelines in the production, secondly they take all the precautions measures for safety of the environment.
- Establishment – 2001
- Website – www.jalindia.com
6. Sixth in the list is JK Cement. JK Cement is placed at the 6th position in the list of top 10 cement companies of India. JK Cement has focused on the production of white cement and has set up manufacturing units in different parts of India, presently company is producing 600000 tons of white cement.In Last 50 years, JK Cement has achieved remarkable growth because they could able to adopt the changes that was happening in the cement industry by adopting modern technology and machines. All the production units of the company are ISO Certified and has been following quality and environment safety guidelines.
- Establishment – 1975
- Website – www.jkcement.com
7. Ramco Cement : Ramco Cement is placed at the 7 position, started in the year 1894, run and managed by a leading south Indian group named Ramco. Portland cement is the main product of the company and has 8 manufacturing units for the production of Portland cement. All the production units are located in the southern part of India mainly in Tamil Nadu, Andhra Pradesh and Karnataka. As per the data mention on their corporate website, company has total revenue of 4607 crores and has income in the last fiscal year was Rs 648 crores. 2883 employees are working in different segments of the company.
- Establishment – 1957
- Website – www.ramcocement.in
8. Eighth in the list is Prism Cement . Prism cement is placed at 8 position the list of top 10 cement companies of India. Company has been listed in Bombay and National Stock Exchange, they have a huge product portfolio of cement and concrete. Company understand their corporate social responsibility and has been planting trees at different locations across Pan India. Secondly they also provide books, shoes school, bags to the deserving students and help them financially so that they can complete there studies.
- Establishment – 1997
- Website – www.prismcement.com
9.Shree Cement Shree Cement is placed at the 9 position, founded in the year 1979 and has captured huge market share of cement industry of North and South east India. In the last 5 you Shree Cement Limited shares has achieved a growth of 400%. Company has headquarter in Kolkata and has PAN India presence.
- Establishment – 1970
- Website – www.shreecementltd.com
10. Last in the list is Rain Cement. Rain Cement Limited is run and managed by rain industries. Rain cement has the production capacity of 3.12 million tonnes per annum. They sell their cement product under the brand name of priya cement that has a tagline lives forever. Company always try to adher to is tag line and manufacturing quality cement using innovative technology. Compared to production units that are located in andhra Pradesh.
- Establishment – 1986
- Website – www.priyacement.com
11.Bheema Cements Ltd : Bheema Cements Ltd is an ISO Certified cement manufacturing company, that has manufacturing plants located in ramapuram village of Andhra Pradesh. Company has achieved study growth and able to sustain steady growth in the competitive cement industry. Portland cement is a prime product the company and bheema cement uses modern technology in the production units.
13. Barak Valley Cements Ltd Barak Valley Cement Limited is a public limited company that is listed in stock market. In the initial days, the manufacturing unit of the company has the production capacity of 300 TPD, over the time company has expanded their business and has launched several production units to enhance production capacity by 300 Times. Company is Assam based and has stronghold on the north East cement market
Address: Devendra Nagar, Jhoombasti,P.O. Badarpurghat, Distt. Karimganj, Assam | Phone: 03845-269435, 269881 | Fax: 03845-268965 | E-mail: email@example.com.
14 Chettinad Cement Corporation Limited
Headquartered in Chennai, Chettinad Cement is a quality product from South India’s reputed Chettinad Group. They started their first cement factory in the year 1962. Today, they have 3 modernized integrated plants at Puliyur, Karikkali and Ariyalur spread across in Tamil Nadu. They are planning to set up one more cement plant at Kallur, Karnataka. They produce wide range of Cement and related products which are used by country’s top builders and construction houses. Some of their clients are NCC Ltd, NAPC Ltd, ITD Cementation, Sintex Industries Ltd, Tata Projects, Larsen & Toubro Ltd etc.
15 Dalmia Bharat Cement Limited
Dalmia Bharat Cement Limited is another prominent name in the cement industry. Founded in the year 1939 and in the last 8 years company has evolved by focusing on adopting latest technology and modern machinery. Dalmia Bharat Cement Limited work hard to cultivate innovation in there production mythology
16 Deccan Cements Limited
DCB was established in the year 1979 by Mr. M B Raju. They have cement manufacturing plant located at Bhavanipuram, Andhra –Pradesh which is equipped with modern German machineries. They produce variety of cements such as OPC 43, OPC 53, PPC, Specialty cements, SRC (Sulphate Resistant Cement), Low Heat Cement etc. They have strong presence in Southern States with 1000+ dealers and distributors.
17 Gangotri Cement Limited
GCL is leading Cement Company, which is based out of Chhattisgarh. They have manufacturing factory at Kharora, Chhattisgarh which has installed capacity of 30000 TPA of cement. They manufacture quality Portland Slag Cement and sell under the brand name “EUROSHAKTI CEMENT”. Their brand is quite popular among affordable cement category and is used by numerous builders in Chhattisgarh and neighbouring states.
18 Gujarat Sidhee Cement Limited
GSCL is leading name in cement industry. Backed by Mehta Group, GSCL produces OPC 53 grade, 43 grade and Portland Pozzolana Cement types of cement under the brand name of “Sidhee Cement”. Their manufacturing facility produces export quality cement and has many quality certifications such as ISO 9001:2008, ISO 14001:2004 and ISO: 18000:2007. They have been awarded with many prestigious awards such as National Productivity Awards, CAPEXIL Award, Indira Gandhi National Memorial Award etc.
19 Heidelberg Cement India Ltd
Founded in the year 2006, HeidelbergCement India is 100% subsidiary of Germany based HeidelbergCement Group. They have three manufacturing factories located at Jhansi (Uttar Pradesh), Damoh (Madhya Pradesh) and at Ammasandra (Karnataka). All of their plants collectively have the capacity to produce 5.4 million tonnes of cements annually. They market their products under the brand name of “mycem”, which has become trusted name in central India.
21 Kakatiya Cement Sugar & Industries Ltd
KCSIL started its journey in the year 1979 with small Portland cement manufacturing company. They manufacture high grade cement which is used for construction of bridges, flyovers, buildings, multi-storied apartments, malls etc. They use US based modern machineries at their Nalgonda ( Andhra Pradesh) based factory to produce cement. Apart from Cement, they have Sugar Plants and Power Plants.
23 Mangalam Cements Ltd
Mangalam was incorporated in the year 1976 by renowned industrialist Mr. B.K. Birla. They produce wide range of cement such as PPC, OPC 43, OPC 53 under the brand name of “Uttam Birla Cement”. Their state of the art manufacturing plant is located at Rajasthan. They are the household name in Rajasthan, Uttar Pradesh, Haryana, Madhya Pradesh and Delhi.
Adhunik Cement Ltd – Adhunik Cement was established in the year 2003 by Adhunik Group at Meghalaya. Later in 2012, it was acquired by Dalamia Cement Limited, making Dalmia Group largest cement manufacturer in North East India. Adhunik Cement specializes in manufacturing of high quality Portland cement. They have advanced manufacturing unit located at Meghalaya which has capacity of manufacturing 1.5 million tons of cement annually. Besides this, they also have a 25 MW power plant which is used in generation of power for its manufacturing plant. There are more than 1000 people working for the company.
Aditi Industries – Aditi Industries are Assam based cement manufacturer which is known for their popular brand “Atibal Cement”. Atibal Cement is a high quality and very strong Portland cement, which is made by combining Cement with Pozzolanic materials such as Fly Ash obtained from power & thermal stations, burnt clays etc.
Anjani Portland Cement Ltd –
Asian Concretes and Cements Pvt. Ltd. –
Bharthi Cement Corporation Pvt. Ltd – Bharthi Cement is a part of France based - Vicat Group. Bharathi Cement is a flagship brand of the company which was started in the year 2009. They have state of the art manufacturing plant at Andhra Pradesh. The plant is equipped with all kind of latest machineries, uses German Technology and a Robotic Lab for R&D and testing. Their cement is packed in Tamper proof packaging in their exclusively designed imported polypropylene bags. These bags are dust proof and tamper proof, making no loss of cement in transportation and prevent cement from moisture and humidity. Their key products are OPC 43 Grade, OPC 53 Grade, PPC and PSC Cements. Their cements are known for their superior quality and are used in constructing dams, roads and other infrastructure of modern India.
Andhra Cements Ltd – Established in the year 1936, Andhra Cement has a decade old cement manufacturing history. Today, they are the part of India’s third largest cement producer – Jaypee Group. Their cement is a household name in Southern states of country and trusted by locals. Their cement is marketed by wide network of dealers in Southern part of country. Their major market is Andhra Pradesh, Tamil Nadu, Karnataka and Orissa. They have two advanced cement manufacturing factories located at Vishakapatnam and Dachepalli, Andhra Pradesh. Together, they can produce 1.4 million tons of cement per annum. Their popular cement products are Ordinary Portland cement and Pretoria Portland cement.
Saurashtra cement is another prominent cement company of India that has been listed in bombay national stock market. Company has a market cap of 511 crores and face value of Per share is Rs 10. From last 4 consecutive years, company has made a profit of more than hundred crore per year. Gujarat is a prominent market of the company which they sell their products, from last 2 years we could not able to see any growth in gujarat market because of tough competition. Till the year March 2017, company has annual production capacity of 1. 2 million tons of cement. Cement export by the company in last year was .081 million tons
Burnpur Cement - Burnpur cement is it growing cement Company Of India that has a prominent market share in the Eastern region. The first production plant for company was set up in the year 1991 in the West Bengal, and because they maintain their good quality, maximum consumption of their is happening in the West Bengal region. This plant usually produced Portland cement and has a production capacity of 0.3 millions tonnes. To increase production company setup their second production unit in Jharkhand with investment of 300 crores. The Jharkhand plant majorly produced OPC, PPC and PSC cement. Company is listed in the stock market and has a market capitalisation of 65.37 crores.
Deccan Cements -
Gujarat Sidhee Cement
Top 10 India Cement companies on the basis of Market Capitalization.
|Company Name||52 wk||52 wk||Market Cap|
|JK Lakshmi Cem||425||64||4,459.70|
|J. K. Cement||682||152.6||4,241.09|
Top 10 Indian Cemment Companies on the basis of Net Sales
|Company Name||Net Sales|
|J. K. Cement||2,795.85|
|JK Lakshmi Cem||2,056.60|
Top 10 India Cement companies on the basis of Net Profit
|Company Name||Net Profit|
|J. K. Cement||97.03|
Top 10 Cement companies on the basis of Total Assets
|J. K. Cement||3,164.56||2,312.56||1,101.99||3,929.29|
|JK Lakshmi Cem||2,926.91||1,571.54||908.36||2,638.12|
Top 10 Tax Paying cement companies
|J. K. Cement||39.24|
|JK Lakshmi Cem||22.37|
Top 10 Cement producing states in IndiaAndhra Pradesh - Andhra Pradesh is India’s largest cement producing state. AP has India’s best and largest limestone and other raw materials reserve, which is required to build quality cement. Almost all major Cement Companies in the country have cement plants at AP. Currently; AP hosts 40 big and small cement manufacturing plants. Some of the top cement producers in AP are India Cements, ACC, Jaypee Cement, and Ultratech cement.
Rajasthan - With 20 Cement plants of different sizes and production capacity, Rajasthan is India’s second largest Cement producing state. Together these cemnent plants have installed capacity of around 42.5 MTPA. Rajasthan is estimated to have 2.5 billion of high grade limestone, which has made this state an ideal location for cement factories. Some of the major Cement players in Rajasthan are Shree Cement, Birla Cement, Ultratech Cement, ACC, and Ambuja Cement.
Tamil Nadu - Tamil Nadu stands at third position in terms of cement production in the country. TN has 22 worlds class Cement manufacturing factories, with a total installed capacity of 34.38 MTPA. Tamil Nadu is also among one of the top 5 Cement consumption state in the country. It has cement plants of Chettinad Cement, Dalmia Cement, Madras Cement, Shree Jagjothi Cement, Tamil Nadu Cements Corporation, India Cements, Zuari and Ultratech Cement.
Madhya Pradesh - Madhya Pradesh is among the largest producer of limestone in India. MP’s major limestone reserves are located in Satna, Jabalpur, Betul, Sagar, Damoh and Rewa districts. Its high quality limestone reserves and the central location, has attracted cement companies to set up their plants at MP. There are 13 Cement plants in the state and its top cement producing companies are Jaypee, Ultratech, and Cement Corporation of India.
Gujarat - With 13 small and large cement manufacturing plants, Gujarat is a leading cement producing state. Gujarat produces 11% of total limestone production of the country. It’s important limestone reserves are located at Banaskantha, Amreli, Kachchh, Junagadh, Kheda and Surat districts. Cement industry in Gujarat has given direct and indirect employment to millions of people living in these districts.
Karnataka - Karnataka is another southern state, which is a hub of cement producing companies. Karnataka’s Gulbarga, Shimoga, and Bijapur districts possess 1/3rd of cement grade limestone of the country. Karnataka is emerging fast in cement production, with companies expanding their production facilities in the state. Currently, Karnataka has 14 Cement manufacturing factories and top cement producing companies in the state are Heidelberg, Chettinad, Cement Corporation of India, Ultratech and Orient Cement.
Maharashtra - Maharashtra is largest consumer state of cement in India. Maharashtra is also a leading cement producing state in the country, with superior quality limestone reserves in Chnadrapur district. There are around 12 Cement plants in the state around its major limestone reserves in Chandrapur, Marthwada, Yavatmal, Chandrapur, Nanded and Ahmednagar districts. These plants belong to Ambuja Cements, Century, Chanda Cement, Heidelberg, JSW, Janta, Reliance Cement, India Cements, and UltraTech Cement.
Chhattisgarh - This eastern state accounts 9.79% of India’s total cement production. Its major deposits of raw materials and limestone occur in Bastar, Bilaspur, Raigarh, Durg, and Raipur districts. Chhattisgarh has 10 cement plants of Ultratech Cement, Lafarge India, Jaypee Cement, ACC Cement, Century Cement, Ambuja Cement, and Cement Corporation of India. There are 3 proposed cement plants in this region of Shree Cements, Monnet Cements, and Kolkata based Imami Cement.
Himachal Pradesh - Himachal Pradesh is the state, which is located in the foothills of Himalaya Mountain. This state is full of natural beauty and resources. There are limestone reserves in HP’s Bilaspur, Kangra and Chamba districts. These districts have one of the highest qualities of limestone available in the country. To tap this high quality of limestone, leading cement companies have put up their plants in HP. This state has Ambuja Cement’s 3 cement manufacturing units, 1 each of CCI and Asian Concrete, and 2 each of Gagal and Jaypee.
Uttar Pradesh - With 12 cement manufacturing plants, Uttar Pradesh ranks at 10th position in cement producing states of the country. UP’s main limestone reservoirs are located in Unnao, Mirzapur, and Lucknow districts. Jaypee Cement has 5 cement plants in UP, with different production capacity. States central location and connectivity makes it ideal for cement logistics.
Cement GST RatesPresently cement GST rate is 28 %, the higher rate of interest increase the cost of houses and building. Mostly the raw material which are used in the production of cement are limestone, coal, electricity.
- On limestone GST rates are 5%
- For Coal GST rates are 5%, previously the GST on coal was 9%, government has reduced that GST on coal from 9% to 5%.
What is the difference between OPC and PPC cement?OPC stands for ordinary Portland cement and PPC stand for portland pozzolana cement.
The production of Portland cement was started in India in the year 1804 buy South Indian industrial Limited but because of less business company shut down the operations. In the year 1910-1915 India has started manufacturing Portland cement.
In the production of ordinary portland cement costliest chinkers are used and generally produce more quantity of calcium hydroxide.
Density: Ordinary portland cement has higher density as compared to PPC cement
Compressive strength : Ordinary Portland Cement price higher compressive strength at early stage whereas PPC cement has lower compressive strength
Cost: PPC cement are cheaper then opc cement
What is the difference between lean concrete and Plain Cement Concrete(PCC)?PCC Cement is known as Plain Cement Concrete is a concrete that has been used in the construction of building. PCC is made up of three things that include cement : sand : aggregate. Generally they are in ratio of 1:3:6, 1:4:8 or 1:6:12 and has good amount of cement is used in their production.
Lean Concrete is another form of concrete that has lower amount of Liquid. That is mainly used at base layer and after that other kinds of concrete are placed on it. This is only used when you are planning to make a temporary smooth surface. This is used when strength is not the focus. It is mainly used as a sub-base for building slabs and road pavements.
Latest Things Happening in Steel Industry
Demand of Cement has decreased in Southern IndiaKerala which is the prominent state of India that has configured almost 13 % in the total sale of cement in south region. Because of recent flood the demand of cement will get hit for short duration of time and this will intern decrease the price of cement in Kerala, although the prices of Cement is remain same in Tamilnadu and Karnataka.
The companies which are hit by this are ramco Cement, India cement and JK cement. As per the past analysis, almost 20% business of the Ramco Cement came from Kerala and 13% of the overall revenue of jK Cement is also came from kerala. As per the industry expert this decline will be short term, after the recovery in the flood affected areas the demand will again rise in the market.
ACC June quarter earnings beat estimates
ACC Cement share prices increased by 13% because of the excellent quarter results. ACC Cement has reported net profit of Rs 3.29 billion for the June 2018 quarter that has a year of a growth of .03 billion in comparison to the last quater. The reason for such a growth is increasing sales of the cement, overall company has seen a growth of 13% in the product sale.
India Cements net rises 3% to 35.3 cr.
The India Cements Ltd. (ICL) which is one of the prominent cement company of India has reported a net profit of 35.3 crore for the March 2018 quarter. In the last year company has made a profit of 34.3 crore and in the same quarter, the overall profit of the company has raised by 3%.
The India Cements Ltd. has total income of ?1,401.73 crore for the quarter under review. The net profit for the year is 100.6 crore and total income for year was 5,360.1 crore (5,794 crore).
The overall profit of the company has decreased because of increased fuel cost and drop in price of cement.
As per the N. Srinivasan, vice-chairman and managing director of the company, he said in the meeting that "We have done well last year given the circumstances."
Maximum Sales Happened from following areas - Company has recorded sales in following locations that includes Andhra Pradesh, Telangana, Karnataka and Maharashtra where maximum infrastructure projects was happening.
Shree Cement commissions cement grinding unit in Sriganganagar
To increase the production capacity and to meet the growing demand of cement industry, Shree Cement has started new cement grinding production unit at Udaipur, Rajasthan. This production unit having the production capacity of 3.60 mtpa and modern machines have been implemented to increase the production at low cost. The moment company has announced this, the stocks of shree Cement has gain 3% on the Bombay Stock Market.
Companies under cement production is from last four years. In the last 4 years company has increased production capacity by 4 times and planning to extend there production capacity to 40 mtpa by FY20E.
Cement firms put up good show in Q4, beat estimatesCement companies has posted excellent growth of 26% in comparison to expected growth of 14.9%. All the prominent companies in cement industries has good fourth quarter earning that includes Dalmia Cement, Ultratech, India Cement, Shree Cement, Ramco Cement, ACC and Birla Corporation. This demand has increased because of the increasing demand of cement in housing, infra and irrigation projects. The increase in diesel and petrol cost has been a real hurdle in the profit growth of companies but operational efficiency has helped companies to achieved this amazing results.
The Prices of Cement increased by 5% to 6% on a packate of 50 KG
The cost of the cement has been increased by 6% in the central Indian region. In this region cost per 50kg bag of cement is increased by 4.2. Moreover the price two similarities in every part of India by rupees 20 to 30 in every state of India. The result of this would eventually impact the cost of building and hence increase the Property rates.Last Updated on 30 August 2018