Property Price Hike: If you are dreaming of buying a house in big cities, then this news can shock you. There is a rise in the prices of houses (Housing Prices in India). In the last quarter of FY 2022-23, buying property has become expensive in 43 out of 50 big cities. According to the data released by the National Housing Bank (NHB), an increase of up to 11 per cent has been recorded in property prices in many cities of the country. Let us know in which cities the prices have increased the most.
In which cities the property became the most expensive?
There are many such metro cities in the country where a huge jump in property prices has been recorded. Kolkata is number one in this. A strong increase of 11 per cent has been registered in the price of property here. Whereas in Ahmedabad, 10.8 per cent, Bangalore 9.4 per cent, Pune 8.2 per cent, Hyderabad 7.9 per cent, Chennai 6.8 per cent, Mumbai 3.1 per cent and Delhi 1.7 per cent have registered an increase in property prices.
Affordable houses in these cities
On the other hand, the cities where a decline in property prices has been recorded include the names of Navi Mumbai, Kochi, Coimbatore, Raipur, Faridabad, Delhi, Bidhannagar and New Town Kolkata. The maximum property prices have declined by 6.7 per cent in Raipur. On the other hand, according to the data of home loan companies, in the fourth quarter, on an annual basis, an increase of 5.3 percent has been registered in the price of houses as compared to the previous year.
RBI did not change the repo rate-
The Reserve Bank of India’s Monetary Policy Committee has decided not to change the repo rate even during the second meeting of the financial year 2024. After this the repo rate remains stable at 6.5 per cent. In such a situation, it is a news of relief for the home buyers as the burden of EMI will not increase on them and this will keep the enthusiasm among the property buyers.
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