Average home prices in India, however, fell on a year-on-year (YoY) and quarter-on-quarter (QoQ) basis during the June quarter
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%