Home loan interest rates: If you were thinking of buying a house, you may get a big shock once again. Because the property prices in these eight cities have skyrocketed overnight due to the increase in the interest rates of the banks, let’s know the big updates related to it…..
New Delhi: If you also have a plan to buy a house, then you may get a big shock. Due to the increase in interest rates on home loans, the prices of houses (home loan interest rates) have also increased.
The prices of houses have increased in 8 major cities of the country. This has been told by issuing a report on behalf of real estate consultant Knight Frank India. Let us tell you that buying a house has now become expensive in 8 major cities of the country.
Home became costlier due to home loan
Due to costlier home loans, property rates have increased in the first 6 months of the year 2023. Knight Frank released the ‘Affordability Index’ for eight cities of the country for the first six months of the calendar year 2023. Income is calculated in proportion to the monthly installment (EMI) for the average family in the index.
Information from the index
The index showed that higher interest rates on home loans have made home buying costlier in all markets so far in 2023.
Which cities are named?
Among the top eight cities, Ahmedabad is the most affordable housing market with a ratio of 23 per cent, followed by Pune and Kolkata at 26 per cent. Bengaluru and Chennai at 28-28 per cent; Delhi-NCR at 30 per cent; Hyderabad 31%; And Mumbai is at 55 per cent.
House rent increased in gurugram
Apart from this, let us tell you that the average rent of houses in expensive apartments in Gurugram, adjacent to the national capital Delhi, has increased by 28 percent on an annual basis in the first half of 2023. Real estate consultant Savills India said the growth was driven by high demand, limited supply.
Savills India’s report released on Thursday said, “In Gurugram, there has been an average 28 per cent year-on-year increase in rentals across all markets. The maximum increase is 33 per cent in GCER (Golf Course Extension Road) and SPR (Southern Peripheral Road) and 31 per cent in Golf Course Road.
