Indian Metros Witness Surge in Property Prices in Q2 2024
Geetanjali Homestate's report reveals growth trends in property prices across major cities in India, with Noida/Greater Noida and Gurgaon leading the way.
Property PricesIndian Real EstateGeetanjali HomestateQ2 2024Metropolitan CitiesReal Estate PuneJul 16, 2024
Mumbai witnessed a significant growth, with average property prices ranging from Rs 21,900 to Rs 22,200 per square foot (sqft) in the second quarter of 2024, up from Rs 20,200 to Rs 20,500 in the first quarter. Delhi also saw a positive trend, with average prices ranging from Rs 11,480 to Rs 11,780 per sqft, compared to Rs 10,950 to Rs 11,300 in the previous quarter.
Bangalore saw the most remarkable increase, with average prices rising to Rs 9,500 to Rs 9,800 per sqft in the second quarter of 2024, from Rs 8,200 to Rs 8,500 in the first quarter. Noida/Greater Noida and Gurgaon also witnessed significant growth, with average property prices ranging from Rs 6,700 to Rs 7,040 per sqft and Rs 10,600 to Rs 11,450 per sqft, respectively.
Hyderabad, Chennai, Kolkata, and Ahmedabad also saw moderate to notable increases in property prices, with Pune witnessing substantial growth. According to Sunil Sisodiya, Founder of Geetanjali Homestate,
Frequently Asked Questions
Which cities witnessed the highest growth in property prices in Q2 2024?
Noida/Greater Noida and Gurgaon witnessed the highest growth in property prices in Q2 2024, with year-on-year growth rates of 31.6% and 32.4%, respectively.
What is the average property price in Bangalore in Q2 2024?
The average property price in Bangalore in Q2 2024 ranged from Rs 9,500 to Rs 9,800 per square foot.
Which city saw the most remarkable increase in property prices in Q2 2024?
Bangalore saw the most remarkable increase in property prices in Q2 2024, with a year-on-year growth rate of 21%.
What is the average property price in Mumbai in Q2 2024?
The average property price in Mumbai in Q2 2024 ranged from Rs 21,900 to Rs 22,200 per square foot.
What is the reason behind the surge in property prices in Indian cities?
According to Sunil Sisodiya, Founder of Geetanjali Homestate, the surge in property prices is due to the robust demand and the increasing investment in infrastructure and quality housing.
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