Hardship for house / flat / apartment buyers in Chennai! Prices up!!
Posted on: 02/Jun/2022 11:23:16 AM
Shocking information is gathered for the citizens who intend to buy a new house/flat/apartment! Reuters has informed us that the house prices are set to increase steeply over the coming days!
An analytical report mentioned that the prices of houses/flats/apartments are likely to go up by 7.5% this year!!
The analytical report further mentions that the prices of houses / flats / apartments are likely to go up in Chennai Metro City and Bengaluru by 5.5% to 6%!!
Further, it has been predicted that the prices of houses/flats/apartments in Delhi, Gurugram, NOIDA, and the National Capital Zone are likely to go up by 4% to 5%.
As the inflation rates have an increasing trend, the Reserve Bank of India has increased the REPO Interest Rate,
Reserve Bank of India Governor, Chandrakantha Das has informed us that the interest rates may go up further in the coming days!
As such, the interest rates for housing loans have shot up!
In this scenario, an analytical report mentioned that the prices of houses/flats/apartments will also go up from this year.
It is explained that the existing high demand for new houses is the main reason for the prices to shoot up! Apart from this, the experts observe that the increase in the prices of construction materials including cement is another factor leading to the increased prices of houses/flats/apartments.
The Reuter’s analytical report further mentions that the house rents in metro cities are also likely to go up because of the above development!
