Housing Prices Appreciate 7-19% In Jul-Sep Across Top 8 Cities: PropTiger
Delhi-NCR witnessed the highest 19% increase in prices, driven by strong demand for luxury properties and infrastructure upgrades.
India's top 8 housing markets saw 7-19% increase in prices during July-September quarter on strong demand, according to PropTiger.
Real estate consultant PropTiger, which has recently been acquired by Aurum PropTech Ltd, on Wednesday released price data for primary housing market of the top 8 cities.
As per the data, Delhi-NCR witnessed the highest 19% increase in prices, driven by strong demand for luxury properties and infrastructure upgrades.
The weighted average price of homes in Delhi-NCR rose to Rs 8,900 per sq ft in July-September this year from Rs 7,479 per sq ft in the year-ago period.
Bengaluru and Hyderabad recorded strong double-digit price growth of 15% YoY (year-on-year) and 13%, respectively.
The price in Bengaluru rose to Rs 8,870 per sq ft from Rs 7,713 per sq ft, while prices in Hyderabad rose to Rs 7,750 per sq ft from Rs 6,858 per sq ft.
In Ahmedabad, the prices rose 7.9% to Rs 4,820 per square feet from Rs 4,467 per sq ft.
Prices in Chennai grew 9% to Rs 7,173 per sq ft from Rs 6,581 per sq ft.
In Kolkata, the prices of residential properties increased 8 per cent to Rs 6,060 per sq ft from Rs 5,611 per sq ft.
Mumbai Metropolitan Region (MMR) witnessed a 7 per cent appreciation to Rs 13,250 per sq ft from Rs 12,383 per sq ft.
Housing prices in Pune increased 9% to Rs 7,250 per sq ft in July-September from Rs 6,651 per square feet in the year-ago period.
Commenting on the data, Zyad Noaman - President of CREDAI- Bengaluru, said, "The strong 15% year-on-year and 12.6% quarterly growth reflects Bengaluru's solid market fundametals and growing homebuyer confidence." He further added that, "the city continues to attract both end-users and investors, and this steady momentum reinforces Bengaluru's position as one of India's most resilient and promising real estate markets."
