Indian Cities Witness Significant Growth in Housing Prices, Delhi and Bengaluru Lead the Way
Real estate demand remains steady, driving growth in housing prices across major Indian cities, with Delhi and Bengaluru seeing the highest growth rates.
Real EstateHousing PricesIndiaDelhiBengaluruReal Estate PuneAug 26, 2024
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.
Frequently Asked Questions
Which cities have witnessed the highest growth in housing prices?
Delhi NCR and Bengaluru have witnessed the highest growth in housing prices, with Delhi NCR seeing a 30% year-on-year growth and Bengaluru seeing a significant price appreciation.
What is the current trend in unsold inventory levels across Indian cities?
Unsold inventory levels have declined up to 5% on a quarterly basis across the top eight cities, with Pune recording the highest annual decline in unsold units at 13%.
What is the outlook for the real estate industry in India?
The industry is expected to continue growing, driven by steady demand and a relatively stable lending ecosystem.
Which organization represents the real estate developers in India?
CREDAI National is the apex body of real estate developers in India, representing over 13,000 members across the country.
What is the significance of the growth in housing prices in India?
The growth in housing prices signifies the underlying demand for real estate in India and the shift towards real estate as a preferred asset class.
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora