Housing prices News

For under-construction properties, housing prices went up in 39 cities by up to 17 percent and declined in 8 cities by up to 8 percent and remained stable in 3 cities.

The RERA came into force from May 2017, while the GST was launched in July last year.

Housing prices and rentals in the Delhi-NCR market remained stable during the review period.

"On an annual basis, the all-India HPI increased by 10.5 percent with Mumbai, Bengaluru, Ahmedabad, Lucknow, Kanpur and Kochi recording double-digit annual growth whereas Chennai witnessed a marginal moderation in housing prices," RBI said in a statement.

The minister emphasised that the Centre and states need to implement the new real estate law in an effective manner.  

Real estate bodies Naredco and Credai Wednesday gave contrasting assessments of the impact of GST on housing prices, highlighting the prevailing confusion in the sector regarding the new indirect tax regime.

Residential property sales in India are expected to witness at least 20-30 percent dip in 2017 due to demonetisation impact, Fitch Ratings said today.

Housing sales are likely to remain stable or improve in next six months while price appreciation is expected to be muted, according to a report by FICCI-Knight Frank India.

The latest Reserve Bank of India data released on Thursday states that housing prices rose during Oct-Dec quarter of 2015-16.

At a time when only one percent of India's population can afford a house above Rs 10 lakh, the Modi government is not only committed to building smart cities but also to offer affordable houses below Rs 5 lakh.

Housing prices increased by 13.7 percent during July-September of this fiscal compared with year-ago period but the annual growth rate has slowed down, according to RBI report.

Housing prices have fallen by an average 15-20 percent across the country in last 18 months and there is no scope for further reduction, realtors' apex body CREDAI said on Wednesday.

Housing prices have risen to record high levels, but increase in disposable income of the homebuyers has made the purchase of a house most affordable in over a decade, according to mortgage giant HDFC Ltd.

Housing price inflation has slipped to nearly four-year low to below 4 percent, a survey by the Reserve Bank said on Thursday.

Housing prices in many prime colonies of the national capital have declined by up to 20 percent since 2013 but the rates were stable in Gurgaon and Noida, according to property consultant JLL India.

Housing prices appreciated in 18 major cities by up to 3.9 percent in April-June over the preceding quarter while property rates fell in six cities including Delhi, according to National Housing Bank (NHB).

Even as the overall sentiment in the real estate sector has improved, buyers feel property prices across top 10 cities are likely to remain stable for the next six months, according to a recent survey.

Housing prices remained largely stable during the last month across the country's seven major cities while supply dipped marginally, according to property consultant CBRE.

Real Estate and ownership of dwellings with a share of 5.9 percent in India's GDP, grew by 5.6 percent in 2012-13.

Prices had dropped 0.32 percent month-on-month in May.