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Kolhapur; Rajendra Joshi: The price hike in the construction sector has once again brought the horse race of the economy in the country after the death blow to the economy during the Corona period. In the last quarter of the last financial year (January to March 2023), prices in the construction sector in the country have increased by double digits in the remaining six metros, with the exception of Mumbai and Chennai, while Delhi has recorded a whopping 59 per cent growth compared to 2021-22. (House Prices Rose)
The ‘Housing Tracker Report Q-1-2023’ report on housing project prices was jointly released on Wednesday by three organizations – Cridai, the apex body of construction professionals, Colliers, known as a consultancy firm in the sector, and Lise Foras, a data collection and analysis firm. was published. According to this, the highest price increase of 16 percent was recorded in Delhi, while it is estimated that the price has fallen by two percent in Mumbai. (House Prices Rose)
The Dwarka Expressway is an example of how a major public sector project can change the face of a locality. Due to the extensive widening of National Highway No. 8 and surrounding roads connecting to it, house prices have increased by a whopping 59 percent. Golf Course Road in capital Delhi is currently the most expensive locality for home project prices, while house prices in Ahmedabad increased by 11 per cent to an average of Rs 6,324 per square foot. Delhi followed by Kolkata and Bangalore saw house prices rise by 15 and 14 per cent respectively. Hyderabad saw a 13 per cent price hike, while Pune and Ahmedabad saw house prices rise by 11 per cent each.
The increasing cost of housing projects in the metros of the country is also responsible for the increasing cost of land and construction costs in the respective localities. The report observed that prices have been rising in Delhi for the last 11 quarters, with prices in Golf Course Road and Gurgaon increasing by 56 and 42 per cent respectively compared to last year.
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