Sand Price In Bihar Shoot Up By 30-40%
Several districts in Bihar are hard hit with an upward revision in sand prices by 30-40 per cent, sparking fear of slowdown in the real estate sector. Traders say the escalation in cost has encouraged black marketing and illegal mining of the basic construction commodity. The sand price in December was Rs 5,400 for a trailer of tractor, now, it has risen to Rs7,000 in Patna. There are reports that the price of sand in other districts has risen by 30-40%, said Mahesh Lal, a sand trader of Danapur. The spike in price of sand is being witnessed after the state cabinet took a decision to extend the validity of lease of existing sand mining ghats with 50% increase in lease fee. The need of extending the lease of old lease holders of sand ghat was necessitated after some people filed a petition with the National Green Tribunal (NGT) against the new sand mining policy of the Bihar government. Now, the mines and geology department has moved the Supreme Court to seek relief. The sharp rise in sand price has spurred smuggling of both yellow and Ganga sand, despite the mines and geology department claiming that raids were being conducted.
Tags : ALLIED real estate sector Bihar sand price