India, March 10 -- Construction costs for greenfield real estate projects increased by 2-4% annually during the last calendar year on account of higher input costs, according to a report by real estate consultancy CBRE.

The report India Construction Cost Trends 2024-25: Navigating Costs in a Transforming Landscape noted a shift from the 6-8% cost increases seen in 2021-22, driven by easing supply chain issues and stabilizing inflation.

There was a marginal 2-4% year-on-year escalation in greenfield construction costs in 2024 compared to 2023, it said.

"Stabilizing construction costs, rapid urban expansion, and sustained real estate demand foster resilience and new opportunities. While workforce shortages present challenges, the sector ...