Average home prices in the top 7 cities touch Rs. 1.23 crore (US$ 145,734), up 23% on year

India’s real estate market saw a significant increase in average ticket sizes across the top seven cities in H1 FY25 compared to the previous year, driven by strong demand for premium homes. The average ticket size for homes sold in these cities rose to Rs. 1.23 crore (US$ 145,734) in the first half of FY25, up from Rs. 1 crore (US$ 120,000) in H1 FY24. Notable increases were seen in cities like Bangalore, where the average ticket size surged 44% to Rs. 1.21 crore (US$ 146,000), and Hyderabad, which saw a 37% rise to Rs. 1.15 crore (US$ 138,000). NCR saw the highest growth at 56%, with its average ticket size rising from Rs. 0.93 crore (US$ 112,000) to Rs. 1.45 crore (US$ 174,000), while Chennai and Pune also recorded strong gains in ticket sizes.

Despite a slight decline in unit sales, the overall value of homes sold in the top cities increased by 18%, underscoring the strong demand for luxury properties. Kolkata experienced a more modest increase, with the average ticket size growing by 16% to Rs. 0.61 crore (US$ 73,000), while the number of units sold fell significantly. The real estate market in these cities saw substantial sales in terms of value, with Bengaluru and Hyderabad emerging as key contributors to the growth. In total, over 2,27,400 units worth Rs. 2.79 lakh crore (US$ 33.5 billion) were sold in the top seven cities between April and September 2024, highlighting the resilient performance of India's real estate sector post-pandemic.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.