Today i.e. on Monday, an industry report showed that there is an increase of 3 to 7% in house prices in eight major cities of the country – Mumbai, New Delhi, Chennai, Kolkata and Bengaluru (Mumbai, New Delhi, Chennai, Kolkata and Bengaluru). Hui. This increase in house prices was partly due to increase in rates of construction materials like cement and steel.
PropTiger.com’s report ‘Real Insight Residential – Annual Round-up 2021’ shows that housing sales grew by 13% to 2,05,936 homes last year as against 1,82,639 homes in the previous year.
The housing sector, along with other sectors, saw a massive recovery after the deadly second wave of the coronavirus pandemic that hit the second half of 2021.
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Last year, a total of 2,05,936 homes were sold across the eight major housing markets in India, registering an increase of 13% over the total sales in 2020. Housing markets in cities such as Ahmedabad and Hyderabad saw an annual value growth of 7% in 2021.
Also house prices increased by 6% in Bengaluru, 3% in Pune and 4% in Mumbai. Meanwhile, Chennai, Delhi NCR and Kolkata saw an increase of 5% in rates.
On the other hand, home sales in Chennai increased by 25% from 10,452 to 13,055, while Delhi-NCR sold 17,907 homes out of 17,789, a marginal increase of 1%.
Home sales in Hyderabad increased by 36 per cent to 22,239 from 16,400, while sales in Kolkata were up 9 per cent from 9,061 to 9,896 homes.
In Maharashtra, home sales in Mumbai rose 8% to 58,556 from 54,237. On the other hand, sales of houses in Pune increased by 9% to 42,425 in 2021 as against 39,086 houses were sold in the previous year.
Aditya Kushwaha, CEO and Director, Axis Ecorp, said, “The prospects for the future are good due to the reduction of interest by the RBI and the policies of the government. Looking at the current pace, we are planning to launch a 100 crore project in Darjeeling as well as many new ones in the current quarter. Planning to launch projects.”
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AMs Project Consultants Pvt. Ltd Director Vineet Dungarwal said, “The Indian real estate sector has shown great resilience during the pandemic. Now the housing market has seen a good boom. Now some cities like Hyderabad, Ahmedabad, Delhi NCR and Pune are ready for favorable housing sales. The commercial real estate sector is also showing good growth.With the infrastructure status being accorded to the data centres, land pockets like Navi Mumbai which are emerging as hubs for the data centers will also benefit from this current environment. “
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