Housing Prices Surge 20% in Top 8 Indian Cities: Report
Feb 28, 2024 19:19
Average housing prices in India's top eight cities have risen by 20% in the last two years due to strong demand, according to a new report by CREDAI, Colliers, and Liases Foras.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Feb 28 (PTI) Average housing prices rose by around 20 per cent in the last two years across the top eight cities on rising demand, according to a report by CREDAI, Colliers and Liases Foras.
These eight cities include- Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), and Pune.
In a joint statement on Wednesday, realtors' body CREDAI, real estate consultant Colliers and data analytic firm Liases Foras said that "prices across the top eight cities in India surged by about 20 per cent in the last two years (2021-2023)."
Bengaluru, Delhi NCR, and Kolkata have witnessed the highest rise in average housing prices at about 30 per cent in 2023 compared to 2021 levels, it added.
"The current state of real estate is the most productive when sales, supply, and prices are growing, and the price rise is not speculative. These factors work in harmony in a balanced and healthy real estate market”, said Pankaj Kapoor, Managing Director, Liases Foras.
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