Average Housing Prices Up 5% In Top 8 Cities: Report

New Delhi:

Common housing costs have elevated by practically 5 per cent for the reason that starting of this 12 months as a consequence of an increase in enter value amid demand revival, mentioned a report.

Common costs of residential properties in main markets throughout eight cities stood at Rs 6,600-Rs 6,800 per sq. foot, practically 5 per cent greater than Rs 6,300-Rs 6,500 at December finish.

Costs have elevated at a better price in key micro markets of main cities corresponding to Hyderabad, Bengaluru, and Gurugram, it mentioned

Pune noticed 7 per cent hike at Rs 5,500-Rs 5,700 per sq. toes (sq. ft.) in July- September 2022 from Rs 5,100-Rs 5,300 per sq. ft. on the finish of the 2021, as per Actual Perception Report by PropTiger.com.

Housing costs in Chennai rose by a marginal 2 per cent to Rs 5,500-Rs 5,700 from Rs 5,400-Rs 5,600 per sq. foot.

In Bengaluru, costs appreciated by 6 per cent to Rs 5,900-Rs 6,100 per sq. ft.

Delhi-NCR (Nationwide Capital Area) noticed a 5 per cent rise in costs to Rs 4,700-4,900 from Rs 4,400-4,600 per sq. ft..

Housing costs elevated 4 per cent to Rs 6,100-Rs 6,300 per sq. ft.

Costs went up Kolkata went up by 3 per cent to Rs 4,400-Rs 4,600 per sq. toes.

Mumbai noticed a 3 per cent improve in costs to Rs 9,900-10,100 per sq. toes.

Common costs for brand new provide and current stock throughout prime eight cities appreciated by 3-13 per cent throughout July-August of this 12 months as in comparison with the identical interval within the earlier 12 months, the report mentioned.

Ankita Sood, Head of Analysis at PropTiger.com, Housing.com & Makaan.com, mentioned: “Aside from inflationary pleasure, the costs have risen on account of the premium being charged for the ready-to-move-in residential items. Our insights counsel that almost 58 per cent of the potential house consumers are in search of ready-to-move-in properties.”

Within the present situation, it’s anticipated that property costs will develop inside a detailed vary till 2022-end earlier than easing barely within the coming 12 months, she added.