As per a survey by a real estate brokerage firm, the first nine months of 2022 saw an average house price increase of about 5% across eight major Indian cities. This increase is attributed to an increase in input costs and a significant rebound in demand.
In these eight cities, the weighted average price of residential properties in primary markets at the end of the third quarter was Rs 6,600–6,800 per square foot as opposed to Rs 6,300–6,500 at the end of the fourth quarter.
"The primary housing market is experiencing a slight price increase. According to Vikas Wadhawan, group CFO of the company, this is primarily due to the sharp increase in the cost of important raw materials like cement and steel.
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