Housing Prices Surge 11% in 8 Cities: Delhi-NCR Leads with 32% Rise

New Delhi, Dec 2 (PTI) India's eight major cities saw an average 11 per cent increase in housing prices annually during the September quarter on strong demand, with Delhi-NCR witnessing the highest appreciation at 32 per cent, according to a report.

Realtors' apex body CREDAI, real estate consultant Colliers and data analytic firm Liases Foras on Monday released their joint 'Housing Price-Tracker Report Q3 2024'.

"Average housing prices across the top eight markets in India rose 11 per cent Y-o-Y (year-on-year) at Rs 11,000 per sq ft during Q3 (July-September) 2024, led by sturdy demand and positive market sentiments," the report said.

The average housing prices have increased for the 15th consecutive quarter since 2021.

All the eight major cities saw an annual increase in housing prices, the consultant said.

Delhi-NCR witnessed the highest rise at 32 per cent Y-o-Y, followed by Bengaluru at 24 per cent Y-o-Y rise during the July-September period.

According to the data, the average housing prices in Delhi-NCR rose 32 per cent to Rs 11,438 per square feet during July-September this year from Rs 8,655 per square feet in the year-ago period.

In Bengaluru, the rates appreciated to Rs 11,743 from Rs 9,471 per square feet.

All the prices are based on carpet area.