Home Prices To Go Up: If you are thinking of buying a dream home in 2022, then you may get a shock of inflation. Property prices can jump up to 30 percent this year. Property prices may increase due to increase in the prices of items required for construction. This has been revealed in the survey of CREDAI, an organization of real estate companies.
21 percent believe that the price will increase by 30 percent
According to a CREDAI survey, 60 percent of property developers estimate that property prices may increase by up to 20 percent this year. Around 35 per cent of developers believe that property prices can go up by 10-20 per cent, 25 per cent believe that only 10 per cent will increase property prices. However, 21 per cent of the developers surveyed believe that property prices may increase by up to 30 per cent in 2022. This survey has been conducted from 30 December 2021 to 11 January 2022 among 1,322 developers across the country, which has been released under the name ‘Real Estate Developer Sentiment Survey 2022’.
The CREDAI Sentiment Report, 2022 also states that 92% of developers will come up with new housing projects when the ease of doing business improves. However, for this, real estate players are eyeing the budget to be presented on February 1, 2022, from which they have high hopes. Budget, 2022: If the government takes initiative for Ease of Doing Business, it will send a positive message among real estate developers and the entire sector will benefit. This survey has been done among developers from 21 states of India which includes cities like Delhi, Ahmedabad, Bengaluru Chennai, Hyderabad, Kolkata, MMR and Pune.
Why will the price increase?
According to the survey, builders say that the construction cost has increased because the raw material has become very expensive. This is the reason that the pressure of increasing the property price is on the developers.