Shivani Tiwari
Pan-India housing prices averaged at Rs 10,226 per square foot in the quarter ended December 31, 2023, up 9% on a YoY basis, according to the Housing Price Tracker report by realtors' body CREDAI, property consultant Colliers, and data analytics firm Liases Foras.
The surge in prices was led by notable growth in housing demand, especially in mid and luxury segments. This underscores the undeterred homebuyer confidence, ongoing infrastructural growth and stable economic conditions in the country.
All of the eight cities studied saw an increase in housing prices, with Bengaluru witnessing the highest surge (21%), followed by Kolkata (11%). Here’s the list:
Ahmedabad: 9% YoY; Bengaluru: 21% YoY; Chennai: 3% YoY; Delhi NCR: 9% YoY
Hyderabad: 10% YoY; Kolkata: 11% YoY; Mumbai Metropolitan Region (MMR): 4% YoY; Pune: 10% YoY
Unsold inventory in Delhi NCR, Pune and Ahmedabad saw a drop in the range of 4-9% YoY. However, most of the other cities witnessed a rise. Image: Pixabay and others