Indian Metros Witness Surge in Property Prices: Geetanjali Homestate's Q2 2024 Report
Mumbai, Delhi, and Bangalore lead the growth in property prices, with Noida/Greater Noida and Gurugram emerging as top performers.
Property PricesIndiaReal EstateGeetanjali HomestateQ2 2024 ReportMumbaiDelhiBangaloreNoidaGurugramHyderabadChennaiKolkataAhmedabadPuneReal Estate MumbaiJul 10, 2024
According to the report, Mumbai, Delhi, and Bangalore have shown significant quarter-on-quarter growth in property values. Mumbai's average property prices ranged from Rs 21,900 to Rs 22,200 per square foot in Q2 2024, up from Rs 20,200 to Rs 20,500 in Q1 2024. Delhi's average prices rose to Rs 11,480 to Rs 11,780 per square foot, while Bangalore saw the most remarkable increase, with average prices rising to Rs 9,500 to Rs 9,800 per square foot.
Noida/Greater Noida and Gurugram were the top performers, with average property prices increasing by 20.8% and 10.09%, respectively. Hyderabad, Chennai, and Kolkata also witnessed moderate growth, while Ahmedabad showed a stable growth pattern. Pune saw substantial growth, with average property prices ranging from Rs 7,460 to Rs 7,700 per square foot.
The report provides valuable insights for buyers, investors, and developers, emphasizing the dynamic and evolving nature of the Indian real estate market. Sunil Sisodiya, Founder of Geetanjali Homestate, commented, 'The Indian real estate market is undergoing a dynamic transformation, with significant growth in property prices across major cities. This upward trend is indicative of the robust demand and the increasing investment in infrastructure and quality housing.'
Geetanjali Homestate's comprehensive report highlights the importance of understanding the nuances of the Indian real estate market, providing a comprehensive analysis of the top 10 cities in the country.
Frequently Asked Questions
Which cities have shown significant growth in property prices according to Geetanjali Homestate's Q2 2024 report?
Mumbai, Delhi, and Bangalore have shown significant quarter-on-quarter growth in property values.
Which cities were the top performers in terms of property price growth?
Noida/Greater Noida and Gurugram were the top performers, with average property prices increasing by 20.8% and 10.09%, respectively.
What is the average property price range in Mumbai according to the report?
The average property prices in Mumbai ranged from Rs 21,900 to Rs 22,200 per square foot in Q2 2024.
What is the year-on-year growth in property prices in Bangalore according to the report?
The year-on-year growth in property prices in Bangalore was 21%.
What is the purpose of Geetanjali Homestate's comprehensive report?
The report provides valuable insights for buyers, investors, and developers, emphasizing the dynamic and evolving nature of the Indian real estate market.
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