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A favourable wealth effect, driven by a sharp rise in the equity markets, is enticing many first-time homebuy ers to take the plunge, while affluent buyers are looking for second homes. If you are a fence-sitter, still unsure about when to buy a house, this market presents a big dilemma. Is it the right time to buy a house?
PropEquity data shows decline in affordable housing supply, pushing developers towards luxury projects in major Indian cities.
Real estate data analytic firm PropEquity said that in the January-March this year, the supply declined to 33,420 units, with builders focusing on developing luxury flats.
The data also showed that the credit outstanding towards commercial real estate stood at Rs 4,48,145 crore in March 2024. It was at Rs 2,97,231 crore in March 2022.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year