With the gradual return of residential property buyers, especially in key regions like New Delhi National Capital Region and Mumbai, prices in these areas have moved up 10-15%. While some developers have increased prices across their projects, others are doing it on a project-specific basis.
Industry trackers say the hike in prices could result in demand moving southwards. Realty fund Kotak Investment Advisors director Vikas Chimakurthy said, There was a substantial demand, especially in the mature markets, after prices dropped a few months ago.'
Times of India