Average housing prices increased by 12% annually across eight major cities across the country with Delhi-NCR witnessing the highest price rise of 30%, a report by Credai, Colliers and Liases Foras has said. Positive homebuyer sentiment and steady demand have kept the momentum strong in the residential market across major Indian cities, realtors' body CREDAI, property consultant Colliers and data analytics firm Liasas Foras said in their Housing Price-Tracker Report Q2 2024. Delhi-NCR saw a maximum 30% price rise to ₹ 11,279 per square feet from ₹ 8,652 per square feet, it showed.
Within Delhi-NCR, Dwarka Expressway and Greater Noida witnessed a price appreciation at 35% and 24% Q-o-Q in average housing prices respectively. This is the highest quarterly price rise for these micro markets in the last few quarters and is led by the recent pick up in luxury segment launches, the report noted. Furthermore, preference for spacious housing units in luxury and ultra-luxury segments led up-to 12% QoQ growth in average price of 3-4 BHK configurations in Delhi NCR, the report showed.
Also Read: Mumbai ranks 2nd, New Delhi 3rd in global property price index; Manila tops the list Bengaluru too witnessed significant price appreciation, with average housing prices in the city breaching the ₹ 11,000 mark in Q2 2024. Average residential prices in the city increased by 8% on a quarterly basis. Within Bengaluru, Inner East micro market saw the highest quarterly rise at 25% followed by per.