Property Prices Surge by 10% in Top Indian Cities!
🏡🏙️ This year, from January to March, property prices in India's top eight cities have soared by an average of 10%! The highest increase was seen in Bengaluru with a whopping 19% rise. According to a joint report by CREDAI, Colliers India, and Liases Foras, prices have surged between 4% and 19% in these cities. 🏠💹
In Bengaluru, the average price per square foot shot up to ₹10,377 from ₹8,748 last year. Pankaj Kapoor, Managing Director of Liases Foras, stated that significant price increases were also observed in Delhi-NCR, Hyderabad, and Pune. He mentioned that the low inflation and interest rates have maintained strong demand, predicting a further increase of 10-15%. CREDAI National President Boman Irani added that there is a strong demand for premium and luxury housing across the country. 🏘️📈
Here's a city-wise breakdown of the price increase:
Delhi-NCR: 16% increase, ₹9,757 per sq. ft.
Ahmedabad: 13% increase, ₹7,176 per sq. ft.
Pune: 13% increase, ₹9,448 per sq. ft.
Hyderabad: 9% increase, ₹11,323 per sq. ft.
Chennai: 4% increase, ₹7,710 per sq. ft.
Mumbai: 6% increase, ₹20,361 per sq. ft.
Kolkata: 7% increase, ₹7,727 per sq. ft.
Sources
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