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West Asia war: Strait of Hormuz disruption pushing south Mumbai real estate costs: Report

According to a research, the developers are facing delays of 10-20 days for shipments of construction materials, as vessels are being rerouted via longer routes. This has increased shipping costs by Rs 1.5-3.5 lakh per container, adding pressure on ongoing and upcoming projects

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An analytical report stated that the construction materials have seen price rise in recent time. Pic/illustration included in the report

An analytical report stated that the construction materials have seen price rise in recent time. Pic/illustration included in the report

The ongoing disruption around the Strait of Hormuz amid the West Asia war is beginning to impact real estate sector in parts of the world including India's financial capital in Mumbai, the industry experts say.

According to a research, the developers are facing delays of 10-20 days for shipments of construction materials, as vessels are being rerouted via longer routes. This has increased shipping costs by Rs 1.5-3.5 lakh per container, adding pressure on ongoing and upcoming projects.

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