Housing rates up 6% throughout 8 cities
New Delhi: Housing rates valued by 6 percent throughout 8 cities throughout July-September 2022, compared to the very same quarter last year on increasing prices of crucial building products, according to a joint record by Credai, Colliers India as well as Liases Foras.
Credai is the peak body for real estate designers in India, while Colliers India is a real estate specialist as well as Liases Foras is an information study company. “Delhi NCR saw the highest increase in housing price across pan India at 14 per cent Year-on-Year (YoY). Golf Course Road saw the highest price rise of 21 per cent, followed by Ghaziabad,” the joint record stated. As per the information, the ordinary real estate rates in Kolkata climbed 12 percent YoY to Rs 6,594 per square feet in the July-September duration of this scheduleyear Ahmedabad saw 11 percent boost in ordinary rates to Rs 6,077 per square feet, while Pune experienced a 9 percent increase in prices to Rs 8,013 per square feet. The ordinary real estate rates in Hyderabad were up 8 percent to Rs 9,266 per square feet.
The prices valued 6 percent in Bengaluru to Rs 8,035 per square feet. The real estate rates continued to be steady in Chennai as well as Mumbai Metropolitan Region (MMR) at Rs 7,222 per square feet as well as Rs 19,485 per square feet. “Since the beginning of 2022, housing prices have been on the rise on the back of increased demand seen since last year, paired with rise in input prices,” the record stated. Credai National President Harsh Vardhan Patodia stated: “The real estate market across the country has witnessed a K-shaped recovery in terms of prices. The consumer sentiment has continued to stay robust as the pandemic reshaped the importance of owning a home rather than renting one.” He anticipated sales to be northbound as well as the variety of unsold stocks to decrease also.
“While there has been a rise in housing prices in line with the global inflationary trends, the market can expect the prices to continue to rise owing to robust demand,” Patodia stated.