Real estate prices have surged across major cities post-pandemic, making home ownership increasingly challenging, especially in urban areas where rapid urbanisation and migration have driven property values up. According to an NHB report, individual housing loan disbursements by primary lending institutions grew by 19.88% in March 2023, indicating rising demand for housing. Gunjan Goel, Director of Goel Ganga Developments, notes, “With demand outstripping supply, no real estate price correction is expected in the next 18-24 months.” She advises those with properties in Tier II and III cities to consider converting them into student accommodations or bed and breakfasts to improve rental income.
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