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
New Leadership at MahaRERA: Former CS Manoj Saunik Takes the Helm
The Maharashtra state government has appointed former Chief Secretary Manoj Saunik as the new Chairman of the Maharashtra Real Estate Regulatory Authority (MahaRERA)
Pune Viral Video: Leopard Attacks Sleeping Pet Dog While Owner Unaware on Phone
A shocking incident in Pune, India, has gone viral on social media, where a leopard was caught on camera attacking a sleeping pet dog while the owner remained engrossed in their phone. This article delves into the details of the event, the reactions it ha
How Much $340 Could Turn Into with Rexas Finance (RXS): The Next Dogecoin Surge?
The crypto market is buzzing with excitement as investors eagerly seek the next big opportunity. Rexas Finance (RXS) is emerging as a promising new token with the potential to replicate Dogecoin's 2021 surge.
Luxury Penthouse in Sohmer Piano Building Up for Sale for ₹211 Crore
A stunning penthouse with a golden dome in New York City’s historic Sohmer Piano Building is now on the market for $25 million. This five-bedroom, five-bathroom property is nestled in a 13-story Beaux-Arts building and offers breathtaking views and a rich
Mumbai Property Registrations Witness 14% Decline in September
Mumbai property market sees a decline in registrations, Knight Frank report reveals
Bollywood Star Tripti Dimri Invests in Luxurious Bandra West Bungalow
Rising Bollywood star Tripti Dimri has invested INR 14 crore in a luxurious three-story bungalow in Bandra West, Mumbai, highlighting the area's status as a prime real estate destination.