Housing Prices Surge: Delhi-NCR Leads with 30% Increase

Average housing prices surged by 12% annually during the April-June quarter of 2024, spanning eight major cities. Delhi-NCR witnessed the highest increase at 30%, as per a report by CREDAI, Colliers, and Liases Foras. Persistent demand and positive sentiments towards real estate have driven up prices.

Average housing prices grew by 12 percent annually during the April-June quarter across eight major cities, with Delhi-NCR witnessing the highest appreciation of 30 percent, according to a report by CREDAI, Colliers, and Liases Foras.

The 'Housing Price-Tracker Report Q2 2024' released by the realtors body CREDAI, property consultant Colliers, and data analytics firm Liasas Foras, highlights significant price growth. It reveals that seven out of eight cities saw annual price appreciation.

CREDAI President Boman Irani commented, ''The real estate sector has been experiencing a bull run in the past few quarters, backed by high transaction volumes across top cities and prevailing positive sentiments towards housing.'' Data indicates that cities like Ahmedabad and Bengaluru saw significant price rises of 13 percent and 28 percent, respectively, while others like Chennai remained flat. The overall boost in housing prices signifies strong underlying demand and a shift towards real estate as a favored asset class.

(With inputs from agencies.)