Circa 2021 – a time when residential real estate witnessed a meteoric bounce back from the aftermath of the pandemic. The need for owning your own home regained its paramount importance for every Indian family. Falling interest rates and stamp duty cuts acted as the much-required catalyst to the growing demand for owned homes. The pandemic has made people value home more than ever before and are now more particular about their choices.
Property prices have risen at a compound annual rate of 1-2 per cent since 2014, somewhat slower than inflation and lagging behind income growth. On the one hand, while property values have remained stable, average yearly income growth has been between 8% and 10%. Property prices were, on average, roughly six
Read more on financialexpress.com