Housing Prices in the Top 8 Indian Cities Increase by 5 percentAugust 17, 2022 15:03
(Image source from: Ndtv.com)
Housing Prices in the Top 8 Indian Cities Increase by 5 percent:- The coronavirus pandemic has shattered all the fields and the world lost several loved one from their families. Crores of people are left in financial stress and the world is recovering slowly. The residential housing prices in the top eight cities of the country have seen a rise and the cities include Delhi-NCR, Hyderabad, Pune, Chennai, Bengaluru, MMR, Kolkata and Ahmedabad. Due to the high demand, residential housing prices came up by 5 percent. The unsold inventory has come down marginally during the second quarter of the financial year 2021-22. The rising prices of the construction material too resulted in the price hike in the housing properties.
Delhi-NCR saw the highest rise and it is 10 percent. It is followed by Ahmedabad and Hyderabad with 9 percent and 8 percent respectively. There are hundreds of new properties launched recently. Bengaluru saw the steepest decline of 21 percent in the inventory overhang. Hyderabad, Ahmedabad and MMR saw an increase in the unsold inventory. The Central bank continued to increase the repo rates and the EMI prices will be hiked by the banks very soon. There is huge demand for self-sustained properties with best-in-class amenities and this is the reason for the high sales after the pandemic.