Introduction
The introduction of Pradhan Mantra Awas Yojana changed the face of real estate investment. Thus, contributed to the rapid growth of real estate across the country, with the rising economic status and purchasing capability of India's middle class.
Hundreds of factors impact the Indian housing market, including economic conditions, interest rates, income, population density, etc.
Economic Growth
Firstly, the requirement for luxury apartments in Kolkata, and ultimately price depends on the economic situation of the nation. For instance, during the recession phase, lower income makes people less willing to buy homes. This results in lower home prices.
Interest Fee
Secondly, interest rates affect your monthly EMI. As the interest rate increases, demand for housing projects decreases. Pradhan Mantri Awas Yojana will lead to a surge in the number of homebuyers.
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