House prices in India likely to rise further: Reuters
According to a Reuters poll, house prices in India have no signs of coming down in the current financial year.
House prices have almost doubled in the past five years and the scenario continues to look gloomy for the buyers.
However, as per the poll prediction, prices in Mumbai have a fair chance to fall down. The poll shows that a rise of 7.5 percent can be expected in Delhi.
In case of other cities, National Capital Region (NCR) a rise of 7.0 percent is predicted, Bangalore – a rise of 5.0 percent and Chennai – a rise of 6.5 percent.
On a scale of 1 to 10, where 1 is extremely undervalued, 5 is fairly valued and 10 is extremely overvalued, the current average level of house prices in Indian realty hubs are rated to be as followed in the survey – Mumbai – 8.5, Delhi – 7.5, NCR – 7.0 and Bangalore - 5.5.
The survey also revealed that in terms of the best opportunity for returns in tier II cities, respondents regard Ahmedabad as their top choice.
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Source: Reuters
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