India’s two realty hotspots, the National Capital Region (NCR) and the Mumbai Metropolitan Region (MMR) have risen 49% and 48% in average residential property prices in 5 years, respectively, according to property consultant ANAROCK.
Unsold inventory drops 52% in the NCR and 13% in the MMR, according to the report.
The pandemic struck just when these two markets were beginning to see green revival shoots, according to ANAROCK.
The MMR saw the launch of more than 5.26 lakh units between H1 2019 and H1 2024, three times the new supply in the NCR.
While the price of the average residential price in the NCR was recorded at Rs 6,800 per square foot in H1 2024, it stood at Rs 15,650 per square foot in the MMR.
In H1 2019, the average prices were recorded at Rs 4,565 per square foot in the NCR and Rs 10,610 per square foot in the MMR.