Real Estate Pune

Indian Cities Witness Significant Growth in Housing Prices, Delhi and Bengaluru Lead the Way

By GeoSquare News Desk · Published 2024-08-26

The Indian real estate market has witnessed significant growth in housing prices across several cities. Analyzing the trends on a quarter-on-quarter basis, the top eight Indian cities recorded a growth of 3% in the second quarter, April-June 2024. However, price levels at the national level have remained constant at 3% for the last four quarters.

On an annual basis, average housing prices have shown a 12% growth across the eight major cities. Among these cities, Delhi NCR witnessed the highest year-on-year growth at 30%, closely followed by Bengaluru. This growth can be attributed to the steady demand for real estate in these cities.

The availability of over 10 lakh housing units across the primary market of eight major cities, as of April-June 2024, has also contributed to the growth. Despite a yearly increase in the number of unsold units in Hyderabad and Bengaluru, both cities saw a modest dip on a sequential basis.