Real Estate: Now you will have to loose more pockets to buy a house, know how much the price has increased in your city

Real Estate: There will be no relief from inflation even this year, buying a house will be expensive, know how loose your pocket will be

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new Delhi. The common man is unlikely to get relief from inflation this year as well. Like last year, this year also it will not be easy for people to buy a house. The main reason for this is the expected increase in house prices. Last year also, the prices of houses in eight cities of the country have seen an increase of up to 7 percent.

House prices are rising due to the rise in the prices of raw materials like cement and steel. A recent survey has said that like last year, this year also common people will have to loose more pockets than before to buy a house.

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Rising raw material cost
According to a survey by Confederation of Indian Industry (CII) and property consultant Anarock, buyers have predicted an increase in prices in view of the increase in raw material prices. More than 55 per cent of the buyers in the consumer survey have predicted an increase in housing prices in the year 2022. The survey was conducted between July, 2021 and December, 2021. In this, 5,210 participants in Tier-1, Tier-2 and Tier-3 tier cities have expressed their views through various digital platforms.

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Will affect buying sentiment
Anarock says that 56 per cent of the survey participants expect housing prices to rise in 2022 due to an increase in raw materials for construction and an increase in overall operating costs for developers. It said that an increase of less than 10 per cent in house prices will not have much effect, but an increase of more than 10 per cent will have a more profound effect on buyer sentiment.

Strong demand for houses
HDFC Limited Chairman Deepak Parekh says that the Indian real estate market is growing rapidly. The demand for houses in this area remains strong. He added that unlike many other western countries, the demand for housing in India is driven by genuine home buyers and not by speculation. Parekh said that in his working life of more than 50 years, he has not seen better housing capacity in India than it is today.

Tags: business news in hindi, House, real estate

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