Housing prices up by 11% in eight cities; Delhi-NCR highest at 32% rise: Report
- IBEF
- December 3, 2024
India's eight major cities recorded an average 11% annual rise in housing prices during the July-September quarter, driven by robust demand and favourable market sentiment, according to the 'Housing Price-Tracker Report Q3 FY24' by CREDAI (Confederation of Real Estate Developers' Associations of India), Colliers, and Liases Foras. The report noted that average housing prices rose for the 15th consecutive quarter since FY21, reaching US$ 129.91 (Rs. 11,000) per sq. ft. during Q3 FY24. Among the top cities, Delhi-NCR led with a 32% YoY rise, followed by Bengaluru at 24%.
In Delhi-NCR, average housing prices increased to US$ 135.08 (Rs. 11,438) per sq. ft. in Q3 FY24, up from US$ 102.21 (Rs. 8,655) per sq. ft. a year ago. Bengaluru's prices climbed to US$ 138.68 (Rs. 11,743) per sq. ft, compared to US$ 111.85 (Rs. 9,471) per sq. ft. in the same period last year. The upward trend was observed across all major markets, reflecting sustained demand and positive buyer sentiment. Prices mentioned are based on carpet area.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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