House prices increased in 41 cities, decreased in five cities, there was a decrease in the prices of houses in Mumbai
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According to the index, the trends have been bullish since June 2021 on a quarterly basis. The residential market is improving after Corona. Prices of under-construction and ready-made homes that have not been sold have also risen sharply.
House prices have increased sharply during 2021-22 in 41 cities of the country. At the same time, prices of residential properties registered a decline in 5 cities, while prices remained stable in 4 cities. According to National Housing Bank (NHB) data, Ahmedabad saw the highest price hike of 13.8% among the top eight cities. Prices have gone up by 11% in Hyderabad, 7.7 per cent in Chennai, 3.2 per cent in Delhi, 2.6 per cent in Kolkata, 1.9% in Mumbai and 0.9 per cent in Pune. However, the prices of houses in Navi Mumbai have come down by 5.9 per cent. In the index of 50 cities on a quarterly basis, prices have increased by 2.6 per cent in January-March 2022.
According to the index, the trends have been bullish since June 2021 on a quarterly basis. The residential market is improving after Corona. Prices of under-construction and ready-made homes that have not been sold have also risen sharply. Their prices increased by 4.8 per cent in the March 2022 quarter, compared to a one per cent rise in the same quarter a year ago.
high price volatility
There is a lot of fluctuation in prices. For example, in Bhubaneswar the prices increased by 23.9%, while in Indore it declined by 10.8%. The index of 50 cities changed by 1.9% in the quarter January-March 2022. That was a change of 0.9% in the prior quarter.
prices will continue to rise
Prices will continue to rise in future also. The reason is that people are looking for their own house. In addition, the cost of construction is also increasing. According to another report, between January and June this year, the sale of houses has increased by 60%. There has also been an increase of 56% in the construction of new houses.
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