A significant percentage of real estate developers expect property prices to increase of up to 30 per cent this year due to sharp increase in rates of building materials, according to a survey conducted by realtors body Confederation of Real Estate Developers Associations of India (CREDAI)
CREDAI survey stated around 60 per cent developers foresee a price rise up to 20 per cent in 2022, due to increase in prices of building material.
The survey further added that another 21 per cent respondents expect property prices to rise in the range of 20 per cent to 30 per cent.
The report underlines concerns of the developer community including controlling the input cost, introducing credit input on GST, increasing availability for funding, and faster approvals for projects.
(With inputs from PTI)
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