Home construction budgets are facing a new challenge as steel bar (Sariya) prices have surged significantly across India. After a period of decline over the last few months, prices have suddenly jumped by Rs 6,000 to Rs 6,800 per metric ton since mid-January. This sharp increase is directly impacting ongoing construction projects and new home builders in major cities.
Latest City-wise Sariya Rates
According to data from February 10, 2026, the rates for secondary steel have crossed the Rs 49,000 mark in several metro cities. It is important to note that these prices usually exclude 18% GST. Primary steel brands like Tata and JSW are trading even higher, sitting between Rs 57,000 and Rs 58,000 per MT.
| City | Price (Per MT) |
|---|---|
| Goa | Rs 50,200 |
| Mumbai | Rs 49,600 |
| Delhi | Rs 49,200 |
| Chennai | Rs 49,000 |
| Hyderabad | Rs 49,000 |
| Kolkata | Rs 46,000 |
| Raipur | Rs 45,300 |
Reasons Behind the Sudden Price Hike
Several factors are contributing to this upward trend in construction material costs. The state-owned mining company NMDC announced a price hike of Rs 100 per ton on iron ore today, which directly affects production costs. Additionally, raw material expenses have gone up, with coking coal prices rising by 9% in January.
Reports indicate that inventory levels at primary mills have dropped by nearly 40%, creating a supply shortage against rising demand from infrastructure projects. The weakening rupee, currently at 90.44 against the dollar, has also made imported raw materials more expensive for manufacturers.
