Housing prices may rise 8% this fiscal: Report

India Ratings and Research (Ind-Ra) on Monday said it expects housing prices to appreciate by 8 percent this fiscal, mainly due to rise in demand from end-users. "The current housing sales uptick and increased demand is end user driven and not speculative. Hence, the hike in prices will be sustainable and is likely to be incremental. Prices were up 6 percent pan-India in FY22," the rating agency said in a statement.

Furthermore, the surge in the housing sales in India has not been accompanied by a sharp rise in prices so far, it added. "After a prolonged period of decline, prices stabilised in the past few years. Ind-Ra expects the price appreciation of residential property in FY23 to be around 8 percent at pan-India level, led by Bengaluru, Mumbai, Pune and Hyderabad," the statement noted.

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