Delhi-NCR Sees 69% Jump in Housing Prices in Q2 2024, Highest Among Top 8 Cities
Residential housing prices in Delhi-NCR jumped by 30% year-on-year in Q2 2024, with Dwarka Expressway seeing a 69% rise. Bengaluru came second with a 28% increase in housing prices.
Real EstateHousing PricesDelhincrBengaluruCredaiColliersLiases ForasReal Estate MumbaiAug 28, 2024
Residential housing prices in the Delhi-National Capital Region (Delhi-NCR) jumped by 30% year-on-year during the April-June quarter of 2024, the highest among the top eight cities in India. In the Delhi-NCR region, the average housing prices jumped 69% in Dwarka Expressway during the quarter under review. Meanwhile, the average housing prices soared 45% year-on-year in Greater Noida during Q2 2024.
Bengaluru came second in the list as the housing prices jumped by 28% year-on-year in the southern city. In Bengaluru, the Periphery & Outer East micro markets witnessed the highest price rise at 42% year-on-year. Ongoing Metro extensions and upcoming suburban rail projects are likely to further boost residential activity, especially in Inner East and Periphery and Outer North micro-markets.
The report also mentioned that 1BHK apartments continued to see healthy demand, with their prices rising at 44% year-on-year followed by 4BHK configuration at 29% year-on-year rise.
Frequently Asked Questions
Which city saw the highest rise in housing prices in Q2 2024?
Delhi-NCR saw the highest rise in housing prices in Q2 2024, with a 30% year-on-year increase.
What was the average housing price increase across the top eight cities in India in Q2 2024?
The average housing prices across the top eight cities in India increased by 12% year-on-year in the second quarter of 2024.
Which micro market in Bengaluru saw the highest price rise in Q2 2024?
The Periphery & Outer East micro markets in Bengaluru witnessed the highest price rise at 42% year-on-year.
What was the impact of the government's partial rollback of long-term capital gains on the real estate sector?
The government's recent partial rollback pertaining to long term capital gains arising out of the sale of land and buildings retrospectively is expected to boost investors and homeowners’ sentiment and thus, the real estate sector at large.
Which city saw the highest sequential decline in unsold inventory levels in Q2 2024?
Kolkata saw the highest sequential decline in unsold inventory levels in Q2 2024, followed by Pune with a 3% dip.
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