The construction sector stands at the cusp of transformation in India and despite tech innovations, certain challenges still persist, resulting in wastage of material and production
hours of about 15% of the actual project duration.
These challenges include shortage of skilled manpower, lack of proper training, high costs and low productivity levels.
The construction industry is likely to enter the next stage of the growth curve in the near future, owing to the technological revolution that is currently underway.
This periodic report by CBRE elucidates the general trend of increasing construction costs owing to various factors such as higher demand levels, rising labor costs, dollar variations and constant revisions in GST rates.