India's Housing Market Sees Upsurge: Average Property Prices Rise 10% in Q1 2024 Across Top Cities
India's housing market witnesses a significant surge in Q1 2024
Indian Real EstateProperty PricesPuneMumbaiDelhi NcrReal Estate PuneMay 26, 2024
The report highlights that Pune led the pack, with a significant increase in property prices, followed by other major cities like Mumbai, Delhi-NCR, Bengaluru, Chennai, Hyderabad, Kolkata, and Ahmedabad. This growth is a welcome respite for real estate developers, who have been grappling with stagnant prices and high unsold inventory levels in recent years.
Interestingly, the unsold inventory at an India level witnessed a marginal 3% year-on-year increase, indicating that the demand-supply gap is slowly narrowing. This is a positive sign for the industry, which has been struggling to clear its inventory levels.
The report also notes that the growth in property prices is not limited to just residential segments, but also extends to commercial and retail spaces. This is driven by the increasing demand for office and retail spaces, particularly in cities like Bengaluru and Hyderabad, which are emerging as major IT and startup hubs.
The Indian real estate industry has been going through a phase of transformation in recent years, driven by factors such as demonetization, GST, and RERA. While these reforms have brought in much-needed transparency and accountability, they have also led to a period of consolidation and adjustment.
ABC Corporation is a leading real estate research and consultancy firm, with a presence across India. The firm provides comprehensive research and advisory services to real estate developers, investors, and policymakers.
Frequently Asked Questions
Which city led the growth in property prices in Q1 2024? A: Pune led the growth in property prices in Q1 2024 Q: What is the year-on-year increase in unsold inventory at an India level? A: The unsold inventory at an India level witnessed a marginal 3% year-on-year increase Q: What are the factors driving the growth in property prices? A: The growth in property prices is driven by factors such as low interest rates improved infrastructure and a growing economy Q: Which cities are emerging as major IT and startup hubs? A: Bengaluru and Hyderabad are emerging as major IT and startup hubs Q: Who is ABC Corporation? A: ABC Corporation is a leading real estate research and consultancy firm with a presence across India
Answer not available
Related News Articles
Unveiling Luxury: MRG Group Introduces Navi Mumbai Marriott Hotel
Experience luxury like never before with the newly launched Navi Mumbai Marriott Hotel by MRG Group
Maharashtra's Infrastructure Boost: CM Eknath Shinde Launches World Bank-Aided Projects
Chief Minister Eknath Shinde has inaugurated new World Bank-supported projects aimed at boosting infrastructure in Maharashtra.
Southern India's Real Estate Sector Set to Soar with SOUTHCON 2024
The Confederation of Real Estate Developers' Associations of India (CREDAI) hosts SOUTHCON 2024 in Vijayawada, promoting collaboration, innovation, and sustainable development in southern India's real estate sector.
Brookfield Expands Indian Real Estate Portfolio with Minority Stake in Local Developer
Brookfield Asset Management acquires minority stake in Indian developer, strengthening its presence in the country's real estate market.
Maharashtra Assembly Elections 2024: NCP's Sharad Pawar Announces First List of Candidates
The Sharad Pawar-led faction of the Nationalist Congress Party (NCP) has announced its first list of 45 candidates for the upcoming Maharashtra Assembly elections. This list includes notable names like Yugendra Pawar, who will challenge his uncle, Deputy
Waltair DRM Arrested in Mumbai on Corruption Charges: CBI Takes Action
The CBI has arrested the DRM of Waltair Division in Mumbai on corruption charges, highlighting the ongoing efforts to tackle unethical practices in the railways sector. The action is part of a broader initiative to ensure transparency and accountability.