India ranks 54th out of 55 countries globally in the housing prices index as rates of residential properties fell marginally by 0.5 per cent year-on-year during the quarter ended June
Chances of realty prices declining further are slim
All India Housing Price Index (HPI) increased 2.7 per cent year-on-year in March quarter 2020-21, as per a data released by RBI on Monday.
India's rank slipped 11 places to 54th in terms of appreciation in residential prices, as housing rates fell nearly 2% during June quarter compared with the year-ago period, according to Knight Frank
According to the data, housing sales declined maximum 86 per cent 1,099 units in Hyderabad during April-June 2020, as against 8,122 units in the year-ago period
According to the data, Hyderabad saw the maximum increase of 9 per cent in basic selling price to Rs 5,434 per sq ft
Housing prices increase in Ahmedabad, Chennai, Kolkata and Pune were only marginal by 2-4 per cent
Pitching for correction in property prices, the survey said that housing prices are ruling at a high level, even as the growth in rates has been muted since 2015-16
On a year-on-year basis, a large variation was observed in HPI growth, with Kanpur recording the highest rise (18.3 per cent) and Delhi recording the maximum contraction (-2.6 per cent), said the RBI.
Slovakia is at number four with home price rising by 9.7%
Pune had the highest price difference between RTM and UC homes at around 7%.
Even with Brexit holding down price increases, London homes averaged more than 609,000 pounds in November, about 20 times the cost of a secondhand 60-foot narrowboat.
CREDAI said the time taken for approvals of housing projects is expected to come down by at least a year
The average rates appreciated by 2.5 per cent in 10 major cities when compared to the previous quarter
Housing prices increased by 1% to Rs 6,287 per sq ft from Rs 6,205 per sq ft
'We have a dream for 2022. The poorest of poor should have a house of his own,' Modi said
At the bottom, Jaipur saw price contraction of 5.4%