India Ratings: Home buyers can get a big setback. There will be an increase in the prices of houses in the current financial year. Home prices will increase by 8 percent. India Ratings and Research (India Ratings Agency) has given information about this. Explain that this increase can be due to increase in demand from end users.
Rating agency issued statement
The rating agency has informed in a statement on Monday that, “The jump in the sale of houses and the increased demand is due to the end user, hence the prices will see an increase.” In the last financial year, the prices of houses at the all-India level had increased by six per cent.
Residential property prices will rise
Let us tell you that with the increase in the sale of houses in India so far the prices have not increased as fast. According to the statement, the agency expects an increase in the price of residential property in the financial year 2022-23.
In which cities will the price increase?
If you are planning to buy houses in Bangalore, Mumbai, Pune and Hyderabad, then here you can see an increase of about 8 percent at the all India level. According to the agency, the sale of houses in the current financial year will increase by about 12 percent on an annual basis.
Why will the prices of houses increase?
Cement prices are likely to increase further due to rising raw material prices amid rising demand. According to Motilal Oswal Financial Services, last month cement prices have registered a rise of two to three per cent on a monthly basis. However, the production of cement was also accelerated to meet the target at the end of the year, but even this could not control the price of cement.