Rates of group housing and commercial properties also increased.

Vasundhara, which is divided into 19 sectors and has a large population, has seen a significant increase in circle rates. For example, plot rates in odd-numbered sectors like 1, 3, and 5 have increased from ₹73,000 per square meter to ₹82,000, a ₹9,000 increase. Even in even-numbered sectors, rates have risen from ₹75,000 to ₹82,000 per square meter. Not just plots, but group housing and commercial property rates have also risen. These rates have now become one-and-a-half to two-fold higher than plot rates. This will impact thousands of people who have invested their life savings in these properties.

Circle Rate Increase

Siddharth Vihar, which spans 635 acres and is rapidly developing, has also seen an increase in circle rates. Plot rates here have risen from ₹65,000 to ₹70,000 per square meter. Group housing and commercial property rates have also increased correspondingly. However, the Board has not changed the rates for certain projects in Siddharth Vihar, designed for the low-income group. The rates for Brahmaputra Enclave have been kept constant at ₹55,600, and for Ganga, Yamuna, and Hindon Apartments at ₹43,800 per square meter.

The government wants to capitalize on this growth.

According to Times experts, recent changes to the UP Building Bylaws 2025 have facilitated this increase. The new rules allow taller buildings and higher floor area ratios (FAR), which will boost group housing projects. Ghaziabad-based real estate expert Ashish Kumar says the government wants to capitalize on this growth, which is why circle rates have been raised. Improved connectivity is also a reason. Projects like the Rapid Rail, the Delhi-Meerut Expressway, and the proposed Noida Electronic City to Sahibabad Metro line are increasing the popularity of Vasundhara and Siddharth Vihar.

Ashish says that due to these amenities, buyers will not be affected much by the increased prices. Nevertheless, property owners remain concerned about rising expenses and future transactions.

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If you are planning to buy a house and are preparing to take a home loan for it, then you will look for a bank which gives you home loan at low interest and processing fees. Since home loan is a long term loan. Therefore even minor differences in interest matter. Therefore everyone wants a loan at low interest. We are giving you details of interest offered on home loans by 5 big banks including SBI, HDFC.

Top 5 banks offering home loans at low interest rates

HDFC Bank

HDFC Bank, the largest private sector bank, is offering interest rates ranging from 9.4 percent to 9.95 percent per annum on home loans.

SBI

State Bank of India is offering interest ranging between 9.15 percent to 9.75 percent depending on the CIBIL score of the home loan borrower.

ICICI Bank

This private sector bank is offering home loans between 9.40 percent to 10.05 percent. Offers home loans at interest rates ranging from a range of percentage. On home loans below ₹35 lakh, the interest rate for business owners ranges between 9.40 to 9.80 percent. Whereas for salaried individuals it is between 9.25 percent to 9.65 percent.

Kotak Mahindra Bank-

This private sector bank is giving home loans at the rate of 8.7 percent to the working class and 8.75 percent to the businessmen.

Punjab National Bank-

PNB (Punjab National Bank) is charging interest on home loans between 9.4 percent to 11.6 percent depending on the CIBIL score, loan amount and loan tenure. For example, a borrower with a credit score of 800 and above is offered the lowest rate of 9.4 for a loan above Rs 30 lakh.

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Property Rates: There has been a tremendous rise in property prices in the last few years. Due to expensive land, rising cost of construction and people’s demand, the price of houses is increasing. Between January and October this year, property prices have increased rapidly in all major metros including Delhi-NCR.

In the last three years, property rates have increased by 25 to 33 percent. During this period, a new trend has emerged that people are now showing more inclination towards bigger houses and facilities. For this he is ready to pay a higher price also.

Greater Noida West leads in Delhi-NCR
In the NCR region, in the last three years, property prices have increased the most in Greater Noida West by about 27 percent. Apart from this, prices in Sector-150 and Raj Nagar Extension have also increased by 21 to 25 percent.

Most expensive houses in Hyderabad
Hyderabad has seen the highest increase of 33 percent in house prices as compared to 2020. This is the highest among the seven major metros. In Gachibowli, the main area of the city, the price has reached Rs 6355 per square foot, which was Rs 4790 per square foot in 2020.

Since, before Covid-19, house prices in Hyderabad were lower than other metro cities like Bengaluru. That is why the maximum surge has been seen here. Now the prices in Hyderabad and Bengaluru have reached parity.

The boom came due to IT sector
Prices in Bengaluru have increased by about 29 percent. A boom in property prices is being seen in Hyderabad and Bengaluru due to the IT sector. A jump of 22 to 25 percent has been seen in the IT hub areas of Pune. Prices increased more in those areas of these three cities where IT companies are located.

Mumbai, Chennai and Kolkata are also not behind
Prices have also increased in Mumbai Metropolitan Region, Chennai and Kolkata in the last three years. According to data, prices have increased by 13 to 21 percent in different areas of Mumbai.

On the other hand, in Chennai this figure has been between 15 to 19 percent. Kolkata also did not lag behind in this matter. The price of houses here has increased by 13 to 24 percent.

The post Property Price : Houses have become costlier by 25 percent in Delhi-NCR, know in which city the prices have increased the most. first appeared on Rightsofemployees.com.