Developers including Godrej, DLF and Oberoi raise home prices on strong demand, input cost hike
Listed real estate developers have increased prices of residential units by up to 10% on the back of strong demand and a substantial increase in raw material prices. Top developers including Godrej, DLF, Sobha, Oberoi, Lodha, and Mahindra have increased prices quarter on quarter, an analysis of their earning calls after their third quarter results showed.
They claimed the price hike has not impacted the sales. “We have hiked prices across projects and in most of the geographies,” Godrej properties managing director and CEO Mohit Malhotra had said during the third quarter analysts call last month. “Most of these price hikes were taken to hedge against cost inflation, which has already happened. There was a very large amount of cost inflation that happened last year.”
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