Residential Prices in Bengaluru's Bagaluru Witness 90% Jump Since 2020; Dwarka Expressway Sees 79% Appreciation
Residential prices in Bengaluru's Bagaluru have risen by 90% since 2020, while Dwarka Expressway in Delhi-NCR has seen a 79% appreciation in average housing prices.
Residential PricesBengaluruDwarka ExpresswayReal EstateAnarockReal Estate NewsAug 26, 2024
Average residential prices at Bagaluru jumped from Rs 4,300 per sq ft in 2019 to Rs 8,151 per sq ft in H1 2024, a staggering 90% increase. Hyderabad's Kokapet ranked second with an 89% price appreciation, followed by Bengaluru's Whitefield with an 80% rise in residential prices during the period.
NCR's Dwarka Expressway is in the 4th position with a 79% price appreciation, with average prices increasing from Rs 5,359 per sq ft in 2019 to Rs 9,600 per sq ft in H1 2024. Bengaluru's Sarjapur Road stood at 5th position with a 58% price jump, while Hyderabad's Bachupally ranked 6th with average prices increasing by 57% to Rs 5,800 from Rs 3,690 per sq ft.
The substantial price increase in residential real estate in North Bengaluru, Whitefield, and Sarjapur Road can be attributed to the rapid infrastructure development in these micromarkets, according to Angad Bedi, CMD of BCD Group. The presence of top educational institutions, healthcare facilities, and IT giants, along with growing commercial activity and leisure and entertainment hotspots, have boosted demand for residential and rental properties in these locations.
Mohit Jain, Managing Director of Krisumi Corporation, attributed the capital appreciation of residential properties in Gurugram, particularly around Dwarka Expressway, to the rapid infrastructure development taking shape in the close vicinity. The demand for residential units far exceeds the supply, thereby resulting in higher unit prices, he added.
The report also highlighted that Panvel in Mumbai Metropolitan Region ranked 8th with a 50% price rise, while Delhi-NCR's New Gurugram is at 9th spot with average prices rising 48% to Rs 9,000 per sq ft. MMR's Dombivli ranked 10th, with rates growing 40% to Rs 9,300 per square feet.
Anarock is a leading real estate consultant that provides expert advice and insights to clients in the Indian real estate market. BCD Group is a real estate construction and development firm that operates in Bengaluru, while Krisumi Corporation is a real estate developer with projects in Gurugram.
Frequently Asked Questions
What is the percentage increase in residential prices in Bengaluru's Bagaluru since 2020?
90%
Which location ranked second in terms of price appreciation?
Hyderabad's Kokapet
What is the average price increase in Dwarka Expressway since 2019?
79%
What is the main factor attributed to the capital appreciation of residential properties in Gurugram?
Rapid infrastructure development
Which company is developing a large township on Dwarka Expressway?
Krisumi Corporation
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