Property price rise: If you have been dreaming of buying a house in big cities, this news may come as a surprise to you. The prices of houses are increasing (Housing Price in India).
In the last quarter of the financial year 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 percent in property prices has been recorded 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 tremendous jump in property prices has been recorded. Kolkata is at number one in this. A strong increase of 11 per cent has been registered in the price of property here. Whereas, property prices have increased by 10.8 per cent in Ahmedabad, 9.4 per cent in Bangalore, 8.2 per cent in Pune, 7.9 per cent in Hyderabad, 6.8 per cent in Chennai, 3.1 per cent in Mumbai and 1.7 per cent in Delhi.
cheap houses in these cities
On the other hand, the cities where property prices have registered a decline include 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 recorded in the prices of houses as compared to the previous year.
RBI did not change the repo rate
The Monetary Policy Committee of the Reserve Bank of India has decided not to change the repo rate even during the second meeting of the financial year 2024. After this the repo rate remains constant at 6.5 per cent. In such a situation, it is a relief news for the home buyers as the EMI burden will not increase on them and this will keep the enthusiasm among the property buyers.
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