India's spiralling real estate market
The Free Press Journal|December 03, 2024
Between January and May 2024, real estate developer DLF sold close to 3,000 luxury homes.
GOVINDRAJ ETHIRAJ

On each occasion, these Gurgaon apartments, adjacent to Delhi, were sold in about three days.

Most of these apartments sold for close to Rs 7 crore. Some 25% of these apartments were bought by non-resident Indians or NRIs according to reports.

While India's middle class tightens its belt, cutting back on everything from tea to two-wheelers due to soaring consumer inflation, the richest 1 per cent who own 40 per cent of the country's wealth are snapping up homes in cities with well-paying jobs, says the Reuters poll.

The poll adds that average home prices in India are set to rise steadily over the coming years driven mainly by demand from wealthy individuals, while rising cost of living will make owning a property unattainable for most people.

هذه القصة مأخوذة من طبعة December 03, 2024 من The Free Press Journal.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 03, 2024 من The Free Press Journal.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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