{"id":356,"date":"2022-11-04T15:28:00","date_gmt":"2022-11-04T15:28:00","guid":{"rendered":"https:\/\/www.saldanha.in\/blog\/?p=356"},"modified":"2022-12-07T15:30:13","modified_gmt":"2022-12-07T15:30:13","slug":"residential-prices-are-expected-to-remain-stable-till-year-end","status":"publish","type":"post","link":"https:\/\/www.saldanha.in\/blog\/residential-prices-are-expected-to-remain-stable-till-year-end\/","title":{"rendered":"Residential Prices Are Expected To Remain Stable Till Year End"},"content":{"rendered":"\n<p>Source: Times Property ( <a href=\"https:\/\/bit.ly\/3VZs3QI\">https:\/\/bit.ly\/3VZs3QI<\/a> )<\/p>\n\n\n\n<p><strong>Chennai<\/strong><br>Bhadresh Mehta, an asset advisor says, \u201cWe saw a sharp increase in real estate prices because there was pent-up demand. A few suburbs in Chennai also saw a price hike to the tune of 10 per cent. But the markets are now consolidating, and I believe that the next price hike would only happen in 2023.<\/p>\n\n\n\n<p><strong>Bengaluru<\/strong><br>City\u2019s asset advisor Santosh Burhani, opines, \u201cThe price hikes in Bengaluru ranged between four and six per cent. Even though the markets are stabilising now, if there is a further hike in the cost of raw material, we may see a price increase. However, it all depends on what measures the government undertakes to make construction affordable for developers.<\/p>\n\n\n\n<p><strong>Mumbai<\/strong><br>Harrish Kumar Jain, vice-president, Brihanmumbai Developers Association (BDA), says, \u201cMumbai has not witnessed a steep increase in realty prices (besides an average rise of one-two per cent), and the prices are expected to remain stable.<\/p>\n\n\n\n<p><strong>Pune\u00a0<\/strong><br>Aniket Sawant (35), an asset advisor in the city mentions, \u201cPune is relatively doing better than most cities as there are pockets in the city where the prices have gone up by about five per cent. \u201d The report further states that the prices of two-BHK properties have shown healthy demand.<\/p>\n\n\n\n<p><strong>National average of price rise\u00a0<\/strong><br>While each state and state capital have had different price increases, many who are in the business of selling say that the rise on-the-ground has been on the higher end, pan India. Niranjan Hiranandani, national vice-chairman, NAREDCO says, \u201cThe Indian property market saw a 10 per cent YoY growth across key markets according to the Housing Price Index of RBI. The sustainable home demand from first-time homebuyers is gaining traction in the affordable housing segment, while HNI and NRI homebuyers are driving the luxury real estate market. The rise in disposable income, job stability, fresh hiring, improved home affordability, availability of home loans for longer tenure and nearly 80 per cent of the mortgage value, and currency depreciation have favoured NRI and HNI fence-sitters to take the plunge.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price hike in the real estate sector, which started around late 2021 and continued till the first few months of 2022, ranged between three and nine per cent. Experts state that this is the peak and prices would be stable till the end of the year.\u00a0<\/p>\n","protected":false},"author":1,"featured_media":360,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":""},"categories":[7,19,15,3,9,8],"tags":[],"_links":{"self":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts\/356"}],"collection":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/comments?post=356"}],"version-history":[{"count":1,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts\/356\/revisions"}],"predecessor-version":[{"id":361,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts\/356\/revisions\/361"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/media\/360"}],"wp:attachment":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/media?parent=356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/categories?post=356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/tags?post=356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}