+
Residential prices rise by 5%, says report
Real Estate

Residential prices rise by 5%, says report

According to a joint report by the real estate association CREDAI and industry experts Colliers and Liases Foras, a rebound in residential real estate demand has resulted in an average 5% increase in prices across the top eight cities — Delhi-NCR, Mumbai, Kolkata, Pune, Hyderabad, Chennai, Bengaluru, and Ahmedabad — while registering a marginal decline in unsold stocks during Q2 of 2022 (April-June).

Residential property prices have been on the rise, surpassing pre-pandemic levels as a result of increased demand and rising construction material costs.

Due to pent-up demand and competitive pricing, the sales momentum that began in the latter half of last year maintained in Q2 2022 as well.

The RBI has thus far increased the key repo rates, which represent the rate at which a nation's central bank loans money to commercial banks, by 140 basis points. This move is consistent with the worldwide trend of tightening monetary policy to combat inflation.

Also Read:
Cement demand rises but utilisation to remain moderate, ICRA report
CCI approves merging HDFC, HDFC Bank, HDFC Investments and HDFC Holdings


According to a joint report by the real estate association CREDAI and industry experts Colliers and Liases Foras, a rebound in residential real estate demand has resulted in an average 5% increase in prices across the top eight cities — Delhi-NCR, Mumbai, Kolkata, Pune, Hyderabad, Chennai, Bengaluru, and Ahmedabad — while registering a marginal decline in unsold stocks during Q2 of 2022 (April-June). Residential property prices have been on the rise, surpassing pre-pandemic levels as a result of increased demand and rising construction material costs. Due to pent-up demand and competitive pricing, the sales momentum that began in the latter half of last year maintained in Q2 2022 as well. The RBI has thus far increased the key repo rates, which represent the rate at which a nation's central bank loans money to commercial banks, by 140 basis points. This move is consistent with the worldwide trend of tightening monetary policy to combat inflation. Also Read: Cement demand rises but utilisation to remain moderate, ICRA reportCCI approves merging HDFC, HDFC Bank, HDFC Investments and HDFC Holdings

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code