According to a report, housing prices in India's eight major cities increased by an average of 11% per year during the September quarter, owing to strong demand, with Delhi-NCR experiencing the biggest growth at 32%. CREDAI, the apex group for realtors, released the joint 'Housing Price-Tracker Report Q3 2024' in partnership with Colliers real estate consultancy and Liases Foras data analytics firm.
"Average housing prices across the top eight markets in India rose 11 percent year-on-year at Rs 11,000 per sq ft during Q3 (July-September) 2024, led by sturdy demand and positive market sentiments," according to the report. For the fifteenth consecutive quarter since 2021, the average price of a home has increased.
All eight major cities saw annual increases in home prices. Delhi-NCR experienced the biggest year-over-year growth during the July–September period, rising 32%, followed by Bengaluru, which increased 24%.
According to a recent ANAROCK assessment, the Mumbai Metropolitan Region has kept its sheen. In the first half of fiscal year 2024, the average ticket size of sold apartments was Rs 1.47 Cr, indicating that people also favor luxury units.
Mohit Malhotra, Founder & CEO of NeoLiv, stated that certain parts of MMR, notably Alibaug, have emerged as calm sanctuaries for purchasers, providing a unique blend of exclusivity, elegance, and convenience. "Alibaug's attractiveness and proximity to Mumbai make it an ideal option for discriminating homebuyers seeking the perfect balance of leisure and convenience. The region caters to an elite clientele with developments that offer luxury villas with creative layouts, community spaces, and eco-conscious designs. Buyers in this area are investing in experience living places that emphasize wellness, comfort, and sustainability rather than merely real estate."
