May 16 (Punjab Khabarnama) : Average house prices in eight major cities of the country increased by 10 percent on an annual basis in the January-March quarter. Bengaluru saw the highest increase of 19 percent. Real estate consultant Colliers India and data analytics company Liases Foras said in a joint report that prices in these eight cities have increased by four per cent to 19 per cent. According to the data, average house prices in Bengaluru rose 19 percent year-on-year to Rs 10,377 per square foot in January-March, 2024. It was Rs 8,748 per square foot in the same period last year.
“Property prices have witnessed a significant 10 per cent year-on-year growth with strong sales and new supply launches across the top eight cities in India,” said Pankaj Kapur, managing director of Liases Foras. Bengaluru remained at the forefront with an increase of 19 percent. This demand in the real estate sector is expected to remain strong with moderate inflation and interest rates. “The rise in housing prices is a direct result of strong housing demand by homebuyers across the country, especially in the premium and luxury segments,” said Boman Irani, Chairman, CREDAI.
According to the data, prices have increased by 16 percent in Delhi-NCR, 13 percent in Ahmedabad and Pune, nine percent in Hyderabad, six percent in Mumbai Metropolitan Region (MMR), seven percent in Kolkata and four percent in Chennai. . Badal Yagnik, CEO, Colliers India, said, “Residential real estate in India is benefiting from positive sentiment. This reflects the strength and dynamism of the residential sector. This is supported by stable repo rates and infrastructure in most major cities of India. Inspired by the development of.
