Home sales decline in 7 major cities
Rising house prices and rising rents have boosted home sales in seven major cities. According to Anaroc Researcher data, sales fell to 99,550 units in the first quarter from 84,930 units in the second quarter.
Sales have declined in Bangalore, Hyderabad, Chennai and Pune. Rising input costs have pushed up house prices and repo rates from the RBI have pushed up home loan interest rates.
Demand for new homes has increased in the second quarter in Mumbai Metropolitan Region, Hyderabad, Pune and Bangalore.
Housing prices have also risen in the top seven cities, with input costs rising and demand rising after Covid 19.
