India's Housing Boom: Rising Prices in Major Cities

Housing prices in India's eight major cities increased by an average of 11% annually during the September quarter, driven by strong demand. Delhi-NCR saw the highest rise at 32%, with Bengaluru following at 24%. This marks the 15th consecutive quarterly increase in housing prices since 2021.

India's real estate market is experiencing a significant boom, with housing prices in eight major cities witnessing an average annual increase of 11% during the September quarter. According to a recent report, Delhi-NCR recorded the highest appreciation at 32%, underscoring the strength of demand in these urban areas.

The 'Housing Price-Tracker Report Q3 2024', released by CREDAI, Colliers, and Liases Foras, highlights the sustained upward trajectory of property values, marking the 15th consecutive quarter of rising prices since 2021. This trend reflects robust market sentiment and buyer interest across the nation.

Specifically, the report noted that in Delhi-NCR, average prices soared from Rs 8,655 to Rs 11,438 per square foot over the past year. Similarly, Bengaluru saw prices climb to Rs 11,743 from Rs 9,471 per square foot, all calculated on the basis of carpet area.

(With inputs from agencies.)