by Rajesh Mourya
The real estate market in India is witnessing a significant transformation, with consistent price hikes that may push end users out of the market. According to the CEO of Housing.com, the continuous rise in property prices could affect affordability, making it difficult for middle-class homebuyers to own their dream homes.
Factors Driving the Price Hikes
Several factors are contributing to the steady increase in real estate prices:
- Rising Construction Costs: The cost of raw materials like steel, cement, and labor has surged in recent years.
- High Demand in Prime Locations: Dombivli and other suburban areas are becoming hotspots for residential and commercial properties.
- Inflation and Economic Trends: The overall inflation rate is impacting property pricing, pushing developers to increase their rates.
Impact on End Users
The price hikes are directly affecting end users who rely on home loans to purchase properties. Higher property rates mean larger loan amounts and higher EMIs, which can deter many middle-class buyers.
Commercial Property Market in Dombivli
In Dombivli, commercial properties are also witnessing a sharp rise in prices due to increasing demand. Retail shops, office spaces, and business hubs are becoming more expensive, making it harder for small businesses to establish themselves.