Improved affordability and continuing work-from-home will increase demand for residences by an average 5-10% (in terms of area) on-year in India s top six cities this fiscal. But two of these - Mumbai and Pune - could see demand contracting .
Residential realty demand seen up 5-10% in FY22, pre-Covid19 levels likely after FY23: Report
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Affordability has improved by up to 30% in the six cities during the past five years because of low interest rates, moderate price correction and reduction in stamp duty (especially in Maharashtra in fiscal 2021), showed CRISIL Research’s Minimum Annual Household Threshold Income index.
Agencies
CRISIL expects a slowdown in new launches this fiscal, and developers to focus on sale of ready or near-complete properties, leading to a gradual reduction in inventory.
Improved affordability and continuing work-from-home is expected to increase demand for residences by an average 5-10% (in terms of area) on-year in India’s top six cities in this financial year. However, absolute demand will catch up with pre-pandemic levels only after fiscal 2023, said a
UP: Family Awaits Compensation, Struggles to Get By After Losing Son to Police Torture
Faisal Husain, a vegetable vendor in Unnao district, passed away after being beaten up by the police for allegedly violating lockdown rules.
Faisal Husain. Photo: Special arrangement
Rights18 hours ago
New Delhi: Faisal Husain, a vegetable vendor in Uttar Pradeshâs Unnao, died less than an hour after being brutally beaten by the Bangarmau police for violating lockdown curfew on Friday (May 21). His mother, Naseema Bano, is unable to speak even two days after his death. âMy sonâ¦â she says, and starts crying over the phone. Faisal would have turned 20 in August this year, she manages to say.