Property rates may increase by 25%
Property rates are likely to go up by 25% in over 1,700 colonies of Delhi, which the Centre has decided to regularise. Real estate agents said the middle class segment, which could not afford a home in Central part of the capital, is now expected to start buying, fuelling the increase in rate. Confederation of Real Estate Developers' Association of India (CREDAI) said the move to regularise these colonies will reduce demand for property in the National Capital Region, which will boost the resale market and also lead to a price correction in the existing regularised colonies with an increase in supply.
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