š”šļø This year, from January to March, property prices in India's top eight cities have soared by an average of 10%! The highest increase was seen in Bengaluru with a whopping 19% rise. According to a joint report by CREDAI, Colliers India, and Liases Foras, prices have surged between 4% and 19% in these cities. š š¹
In Bengaluru, the average price per square foot shot up to ā¹10,377 from ā¹8,748 last year. Pankaj Kapoor, Managing Director of Liases Foras, stated that significant price increases were also observed in Delhi-NCR, Hyderabad, and Pune. He mentioned that the low inflation and interest rates have maintained strong demand, predicting a further increase of 10-15%. CREDAI National President Boman Irani added that there is a strong demand for premium and luxury housing across the country. šļøš
Here's a city-wise breakdown of the price increase:
Delhi-NCR: 16% increase, ā¹9,757 per sq. ft.
Ahmedabad: 13% increase, ā¹7,176 per sq. ft.
Pune: 13% increase, ā¹9,448 per sq. ft.
Hyderabad: 9% increase, ā¹11,323 per sq. ft.
Chennai: 4% increase, ā¹7,710 per sq. ft.
Mumbai: 6% increase, ā¹20,361 per sq. ft.
Kolkata: 7% increase, ā¹7,727 per sq. ft.
