+
Housing costs rise by 7% across all major cities
Real Estate

Housing costs rise by 7% across all major cities

According to a survey by PropTiger.com, the average price increase across all the main real estate markets in India increased by close to 7% Y-o-Y during the first quarter of 2023.

The average price of new homes increased across all the markets included in the survey, according to the report.

The survey notes that Bengaluru, which is the market with the greatest upswing in property values, saw an average rate of 10% appreciation in the past year.

Pune and Ahmedabad, which both saw increases in average property prices of 8% and 7%, respectively, lagged this southern market in terms of price growth.

Given that prices are anticipated to rise, now might be a good moment for people who have been on the fence to step in and purchase their dream home. Over the long run, real estate has consistently been one of the best-performing asset classes.

According to the report, the cost of purchasing a home in India is rising due to a number of factors, including the ongoing increase in the cost of labour and raw materials, the rising demand for homes following COVID, and the end of government-funded subsidy programmes in March of this year.

Also read: 
MahaRERA cautions homebuyers against 308 projects facing insolvency          
Government eyes model realty contract          


According to a survey by PropTiger.com, the average price increase across all the main real estate markets in India increased by close to 7% Y-o-Y during the first quarter of 2023.The average price of new homes increased across all the markets included in the survey, according to the report.The survey notes that Bengaluru, which is the market with the greatest upswing in property values, saw an average rate of 10% appreciation in the past year.Pune and Ahmedabad, which both saw increases in average property prices of 8% and 7%, respectively, lagged this southern market in terms of price growth.Given that prices are anticipated to rise, now might be a good moment for people who have been on the fence to step in and purchase their dream home. Over the long run, real estate has consistently been one of the best-performing asset classes.According to the report, the cost of purchasing a home in India is rising due to a number of factors, including the ongoing increase in the cost of labour and raw materials, the rising demand for homes following COVID, and the end of government-funded subsidy programmes in March of this year.Also read: MahaRERA cautions homebuyers against 308 projects facing insolvency          Government eyes model realty contract          

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code