Prices of houses up in Chennai Metro City and Coimbatore!
Posted on: 07/Sep/2023 12:06:32 PM
The prices of houses under construction have gone up as compared to the previous year in Chennai Metro City and Coimbatore.
The National Housing Bank, functioning directly under the central Ministry of Finance, undertakes the responsibility to lend funds to the banks and housing development funding agencies.
This task facilitates the public to get housing loans from these banks and housing finance agencies.
Quarterly analytical reports are released by the National Housing Facility Bank regarding the changes in the prices of houses throughout the country in over 50 cities.
This task is undertaken to make the public aware of the status of the prices of houses in various cities.
The National Housing Bank has now released the latest quarterly report until June regarding the changes in prices of houses throughout the country.
As per this latest quarterly report, it is observed that the average prices of the houses under construction have gone up!
The pricing index for the houses in Chennai Metro City in June 2022 was 117. This has gone up in March 2023 to 120. Now, in June, this has been 118. The price of the constructed house in June 2022 was Rs. 7999/- per square foot. In June 2023, this has gone up to Rs. 11672/- per square foot!
In Coimbatore, the Housing Price Index in June 2022 was 130. March 2023, it shot up to 133. However, in June 2023, this has gone down to 130. The price for the constructed houses in Coimbatore was Rs. 6157/- per square foot in June 2022. This has come down to 6147 in June 2023. The average price of the houses under construction was Rs. 6720/- per square foot in Coimbatore in June 2022. In June 2023, this has shot up to Rs. 7993/- per square foot.
