A joint report by real estate association CREDAI and domain experts Colliers and Liases Foras said that residential prices have surpassed pre-pandemic levels and are on the rise due to an increase in demand amid rising prices of construction materials. Here are the top 8 cities where the real estate prices hiked the most.
Mumbai | The Mumbai Metropolitan Region saw 1 percent rise in housing prices that stood at Rs 19,677 per square foot. However, MMR still accounts for the highest share in unsold inventory at 36 percent and it saw a 14 percent rise in unsold inventory in the last year, as per the report.(Image: Shutterstock)
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Chennai | Chennai witnessed 1 percent increase in real estate prices with an average carpet price of Rs 7,129 per square foot during the June quarter. (Image: Shutterstock)
Bengaluru | Bengaluru saw 4 percent rise in real estate prices with an average carpet price of Rs 7,848 per square foot. However, Bengaluru saw the steepest decline of 21 percent YoY in its inventory overhang. (Image: Shutterstock)
Pune | Pune reported 5 percent rise in housing prices to Rs 7,681 per square foot during the previous quarter. As for unsold inventory, Pune saw 13 percent rise. (Image: Shutterstock)
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Kolkata | Prices of residential properties in Kolkata jumped 8 percent to Rs 6,362 per square foot. (Image: Shutterstock)
Hyderabad | For Hyderabad, there was an 8 percent YoY increase in housing prices which stood at Rs 9,218 per square foot in the April-June quarter. (Image: Shutterstock)
Ahmedabad | Ahmedabad saw 9 percent YoY increase, in real estate prices in Ahmedabad to Rs 5,927 per square foot during the April-June quarter. (Image: Shutterstock)
Delhi-NCR | Delhi-NCR saw the highest increase in residential prices at 10 percent YoY with an average carpet price of Rs 7,434 per square foot in Q2 of 2022. The Golf Course road saw the highest price rise of 21 percent YoY followed by Noida Expressway in Delhi. For unsold inventory, Delhi NCR witnessed a 14 percent rise. (Image: Shutterstock)
