In a report called the Housing Price Index, which was put out by the National Housing Bank (NHB), the authority for housing finance companies said that home loan rates are still lower than before the pandemic. This means that homes are still affordable. In eight critical main domestic areas, the housing prices rise across 43 cities in Q1 of FY24 between April and June 2023. In Ahmedabad, they went up by 9.1%, in Bengaluru by 8.9%, and in Kolkata by 7.8%.
According to the Housing Price Index (HPI), the index increased by 1.1% in Chennai, 0.8% in Delhi, 6.9% in Hyderabad, 2.9% in Mumbai, and 6.1% in Pune over a year. It said that the 50-city HPI based on assessment prices of houses received from banks and housing finance companies (HPI @ Assessment Prices) saw a yearly increase of 4.8% during the first quarter housing prices rise across 43 cities in Q1 of FY24, compared to a 7% increase during the same time last year. The annual change in HPI @ Assessment Price differed significantly between the towns. In Gurugram, it went up by 20%, but in Ludhiana, it went down by 19%. Since June 2021, the measure has increased from one quarter to the next.
The index went up in 36 of the 50 cities, with Chandigarh having the highest sequential increase of 4.9%. However, the HPI @ Assessment Price decreased in Navi Mumbai, Ludhiana, Howrah, and Bhiwadi by more than 2% during the quarter, with Navi Mumbai having the most significant drop of 5.9%. According to the National Housing Bank (NHB), housing prices rise across 43 cities in Q1 of FY24 between the first quarters of 2023-2024, while the rates of residential units went down in seven cities. In a report called the Housing Price Index, which was put out by the National Housing Bank (NHB), the authority for housing finance companies said that home loan rates are still lower than before the pandemic. This means that homes are still affordable. In the June quarter, house prices in the 50 towns grew by 4.8% compared to last year. The fact that house prices increased by 7% in the same quarter last year is interesting. In 50 towns, house prices went up by 0.7% from the March quarter of this year to the June quarter. The NHB report showed that since June 2021, the house price index has increased every three months.
Over the next few years, Indian real estate will likely stay appealing, and growth will likely be faster in Tier II towns. End users liked that urban areas like Noida, with a lot of supply and a promise of better facilities, were priced competitively. With an HSI of 140, Bangalore was at the top of the list of places. Since the last quarter, housing prices rise across 43 cities in Q1 of FY24 by 15%. The poll found that this place is a good choice because there is a lot of demand from the information technology industry and the prices aren't too high. After a long time of bad news, the real estate market is on the mend. Homebuyers are on a shopping spree because there aren't many homes for sale, a lot of money available, and interest rates are at an all-time low. New statistics from ANAROCK Research show that in the first quarter of 2022, around 99,550 homes were sold in the top seven cities, the most in any quarter since 2015. This is a 71% increase from last year, when about 58,290 units were sold. New starts have grown by 43%, from 62,130 units in Q1 2021 to more than 89,150 units in Q1 2022. People who wanted to buy a home but were waiting for the pandemic to end are now interested in investing in the real estate market. Prices are still fair, and developers are giving serious buyers significant discounts.
Birla Trimaya has elite homes built by Birla Estates Private Limited at BK Halli Road at Devanahalli. The vast project in North Bangalore is near the airport and covers an area of 53 acres. It has a total of 3000 units, which include apartments and villas. Phase 1 of the project is being launched and has 600 homes.
There are 1, 2, and 3-BHK apartments and duplex units in the enclave. The array of homes here has been planned out to meet every buyer’s needs. The Vaastu-compliant residences are filled with light and have plenty of ventilation. The homes are laid out to be the ideal modern residences.
The prices of the homes at Birla Trimaya Price will meet the budgets of different buyers, and the 1-BHK apartments are approximately Rs. 45 to 50 lakhs. The 2-BHK homes are approximately Rs. 80 lakhs, and the 3-BHK apartments are between Rs. 1 crore to Rs. 1.2 crore. The duplex homes at the project cost approximately Rs. 2.2 crore.