Housing Prices in India's Major Cities See Significant Surge
India's housing market has seen a substantial rise in prices across major cities, with Pune's Hinjawadi witnessing a 39% increase.
Housing PricesIndiaReal EstateAnarock GroupPuneHinjawadiReal Estate MumbaiAug 30, 2024
According to a recent report by Anarock Group, a leading real estate consulting firm, house prices in these cities have risen by 45% in the first half of this year compared to 2019. Bengaluru has experienced the highest growth, with prices increasing by 90%, from Rs 4,300 per sq ft to Rs 8,151 per sq ft over the past five years.
In Hyderabad's Kokapet area, prices have jumped 89%, from Rs 4,750 to Rs 9,000 per sq ft. Delhi's Dwarka Expressway has seen a 79% increase in prices during the same period. The report also notes a 58% rise in Bangalore's Sarjapur Road, 57% in Hyderabad's Bachupally and Tellapur, 53% in Mumbai's Panvel, 48% in New Gurugram, and 40% in Mumbai's Dombivli.
Anuj Puri, Chairman of Anarock Group, attributed the surge in house prices to the post-coronavirus period. He noted that Hyderabad has seen the highest increase at 64% over the past five years, followed by Bangalore at 57%, Delhi and Mumbai at 48%, with Kolkata experiencing the lowest increase at 25%.
The report highlights Pune's Hinjawadi as one of the areas that have seen significant growth, with a 39% rise in house prices. This trend is expected to continue, driven by increasing demand for housing and limited supply in major cities.
Anarock Group is a leading real estate consulting firm that provides expert advice and services to clients in the real estate industry. With a strong presence in India, the company has a team of experienced professionals who provide market research, consulting, and transaction services to clients.
Anarock Group is a premier real estate consulting firm that offers a range of services, including market research, consulting, and transaction services. With a strong presence in India, the company has a team of experienced professionals who provide expert advice and services to clients in the real estate industry.
Frequently Asked Questions
Which city has seen the highest increase in house prices?
Hyderabad has seen the highest increase at 64% over the past five years.
What is the average increase in house prices across major cities in India?
The average increase in house prices across major cities in India is approximately 45%.
Which area in Pune has seen significant growth in house prices?
Pune's Hinjawadi has seen a 39% rise in house prices.
What is the reason behind the surge in house prices?
The surge in house prices is attributed to the post-coronavirus period, with increasing demand for housing and limited supply in major cities.
Who is the Chairman of Anarock Group?
Anuj Puri is the Chairman of Anarock Group.
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