Synopsis According to the National Housing Bank (NHB), 43 out of 50 cities in India have reported an increase in property prices in the fourth quarter of 2022-23. The annual Housing Price Index (HPI) increased to 5.8% during this period, with eight major cities showing appreciation in property prices. In contrast, seven cities recorded a decline in property prices. Related Godrej Properties hikes stake in two subsidiaries, gets complete control Hyderabad surpasses Bengaluru with highest new office supply in FY23 As per the National Housing Bank (NHB) data released on Thursday, 43 cities out of 50 have registered an increase in property prices during fourth quarter of 2022-23. While majority of the cities have registered an increase, seven cities have registered a decline in the property prices. The home loan rates are still lower than that of pre-Covid period leading to a healthy affordability overall, it said. India’s eight key primary residential markets witnessed appreciating property prices during the January-March 2023 period. Ahmedabad with 10.8 per cent, Bengaluru (9.4 per cent), Chennai (6.8 per cent), Delhi (1.7 per cent), Hyderabad (7.9 per cent), Kolkata (11 per cent), Mumbai (3.1 per cent) and Pune (8.2 per cent) recorded an increase in… Read full this story
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