A new report shows that average home prices across India’s eight biggest cities including Hyderabad property climbed to between Rs 7,000 and Rs 7,200 per square foot in the second quarter (April-June). Compared to last year, prices have risen by 6%. Owing to strong demand for housing and many other positive factors, the residential real estate market in Hyderabad continues to be booming and in demand.
According to a report by PropTiger.com, the residential real estate market in Hyderabad actually witnessed a significant rise in the second quarter of 2023 (April-June), with real estate prices increasing by 5% year-on-year. A new report called “Real Insight Residential – April-June 2023” takes a close look at what’s happening in the housing market right now across major cities.. “Hyderabad properties witnessed a 5 per cent increase, with average prices going from Rs 6,400 to Rs 6,600 per sq ft,” it said.
According to the report, the weighted average price of residential real estate in India’s eight major cities reached Rs 7,000 to Rs 7,200 per square foot in April-June, an Compared to last year, prices have risen by 6%. We covered Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai National Capital Region, Delhi National Capital Region, and Pune. Commenting on this trend, Vikas Wadhawan, Group CFO of REA India and Head of Business, PropTiger.com, said, “Since COVID-19, real estate prices have increased in major cities of India. “Because it is attracting attention,” he said. Increased new supply is helping to moderate price increases. ”
According to Ankita Sood, head of research at REA India (PropTiger.com, Housing.com & Makaan.com), the Gurugram real estate market has seen good performance in both luxury and mid-priced homes, with weighted average real estate Prices rose 12 times. %. in Q2 2023. In other major cities, prices ranged from Rs 3,700 to Rs 3,900 per sq ft, up 7 per cent year-on-year, Ahmedabad said.
In Bangalore, values rose by 9%, with average prices ranging from Rs 6,300 to Rs 6,500 per sq ft. In Chennai, prices rose 3% to Rs 5,800 to Rs 6,000 per square foot. Between Delhi-NCR he recorded an increase of 6%, Noida recorded an increase of 8% and Kolkata recorded a price increase of 6%. Mumbai and Pune recorded a 3% increase. From April to June, the number of real estate sales in eight major cities increased by 8% annually to a total of 80,250 units. This compares to a total of 74,320 units sold in the major housing markets of these top eight cities in the same period last year.
Prices across India’s eight biggest cities climbed to between Rs 7,000 and Rs 7,200 per square foot in Q2 2023, a 6% increase year-over-year
Gurugram led the growth with a significant 12% rise in both luxury and mid-priced homes.
Yes, sales across the eight major cities rose by 8% year-on-year, reaching a total of 80,250 units
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