Analysis of Trends in Property Prices in Selected Indian Cities
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 7
Abstract
The Indian real estate market is among the most recognised and fastest growing in the world. It is the second largest employer after agriculture and contributes to as much as 9% of the country’s total Gross Domestic Product. The paper compares the trends in average property prices of thirty-two localities across eight major Indian cities for the time periods 2016-17, 2013-14 and 2009-10. The 2016-2017 time-periods is then separately analysed since at that time GST was implemented. However, for 2016-17, no significant fluctuations has been found in the trend of prices. Therefore a regression analysis is conducted to see what factors may influence the average property prices in that time frame. The paper has found that the demand-side factors are more influential compared to that of supply-side factors. Finally, a study of the overall impact of GST shows how the cost of inputs into producing real estate have mostly fallen post-GST; home-buyers will be benefited more if they avail ready-to-move-in property than under-construction ones, and the position of affordable housing is better off as opposed to luxury housing under this regime
Authors and Affiliations
Angana Bhattacharya, Dr. Sayantani Roy Choudhury, Dr. Devleena Majumdar
Keywords
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- EP ID EP412165
- DOI 10.9790/487X-2007053338.
- Views 50
- Downloads 0
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