🏠 Buying a home only gets harder

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If you are privileged enough to even consider buying a home in this economy, think again. It seems to be an uphill task for everyone involved.

Story so far: The inflation rates, the war in Ukraine, coal shortages, increased fuel prices and hiked repo rates have all been used to justify the crazy costs of the housing market right now. Even builders in the apartment sector have started demanding additional charges to the tune of ₹100 to ₹200 per sq ft.

  • People have started complaining about builders violating their agreements with the Real Estate Regulatory Authority (RERA) but the latter seems to have a justification for everything. 
  • The hope is that the government would intervene to stabilise the prices a little bit.

The builders’ side: According to Suresh Hari, chairman, Confederation of Real Estate Developers’ Association of India (CREDAI)-Bengaluru, inflation in the labour market and construction materials have increased input costs by 30-40%. The last 5 months alone saw the price of construction materials rise by 13-63%.

Buying a house was never meant to be cheap but this is getting out of hand!

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