Sudden rise in house prices including Hyderabad..!?

It has been reported that house prices have increased by 5% to 10% in 8 major cities of india including Hyderabad. It is noteworthy that house prices have increased due to the increased demand for houses after the coronavirus. Apart from that, the prices of construction materials such as cement, bricks, and iron have also increased very much. Prices are also said to have increased by 5 to 10 percent.
According to reports, house prices have increased by 5% to 10% in 8 cities namely delhi NCR, kolkata, hyderabad, chennai, Bangalore, hyderabad, Pune, and Ahmedabad. Statistics show that the houses that were not sold in the last financial year 2021-22 are now being sold. However, it is said that house prices are now higher than in the pre-pandemic period and this is due not only to the increase in demand for houses but also to the very high cost of construction materials.It has been reported that house prices in delhi NCR have increased by 10 percent this year compared to last year, ahmedabad by 9 percent, hyderabad, kolkata by 8 percent, and Bengaluru, Pune, and chennai by 5 percent. As for chennai, the increase in house prices is entirely due to the cost of construction materials. It is said to be due to high altitude. It is said that the houses which were not sold for the last two years are now being sold in Chennai.But at the same time statistics show that the number of unsold houses in all 8 cities including chennai is slightly higher. Interest rates on home loans are rising as the reserve bank of india raises the repo rate from time to time. Due to this, it is said that the number of home buyers is decreasing due to which there is a stagnation in the sale of houses.But at the same time, due to the high demand for houses, some people are daring to buy houses, statistics say that the sale of houses has now returned to normal. In Bengaluru, a square foot is selling for Rs.7,848 and in chennai, a square foot is selling at Rs.7,129. In April-June, the price per square foot in hyderabad rose to Rs 9,218. This is an increase of 8 percent from the previous year. Residential prices in kolkata also increased by 8 percent to Rs 6,362 per sq ft. house prices in the Delhi-NCR region have increased by 10 percent in a single year to Rs 7,434 per square foot. Pankaj Pal, Group Managing director of AIPL, said that house prices have not increased significantly in the last 10 years. Builders are selling very less. With the rise in the price of key construction materials, real estate developers are left with no option but to sell to customers at higher prices.

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house prices increase in 8 cities

Sowmiya Sriram

17/08/2022 09:38 AM