The average housing prices in seven major cities have increased by 9%.
The primary housing market of Delhi-NCR has recorded an annual increase of 24% during the July to September quarter. This increase is especially due to the increasing demand for luxury houses. This information has been given in the report of Real Estate Consultancy Company Anarock.
According to anarock data, Residential properties in Delhi-NCR The average price of ₹ 7,200 per sq ft was last year, which has now increased to ₹ 8,900 per sq ft. The major housing markets of Delhi-NCR include Gurugram, Noida, Greater Noida, Delhi and Ghaziabad.
According to the report, average housing prices rose 9% to ₹ 9,105 per sq ft in seven major cities of India, which was ₹ 8,390 per sq ft last year. The highest increase among them was 24% in Delhi-NCR. Mumbai metropolitan region (MMR) is still the most expensive housing market in the country. The prices of houses here rose 6% to ₹ 17,230 per sq ft.
Apart from this, the prices of homes in Bengaluru have increased by 10% to ₹ 8,870 per sq ft. Pune has increased by 4% to ₹ 7,935 per sq ft. Hyderabad has increased by 8% to ₹ 7,750 per sq ft, 5% in Chennai to ₹ 7,010 per sq ft and 6% in Kolkata to ₹ 6,060 per sq ft. CMD Manoj Gaur of Gaur Group said, an increase of 24% in NCR shows a big change in the behavior of those who buy the house. Now buyers are investing in cities that give better lifestyle and stability.
Chrisumi Corporation chairman Ashok Kapoor said that this rapid increase in prices in Delhi-NCR shows the constant demand for houses. He said, despite the economic fluctuations, the real estate sector remains strong. Today's buyers want better lifestyle and modern facilities, not just homes. CEO Manik Malik of BPTP Limited said that the bounce in the demand for luxury houses shows the increasing prosperity of people and the desire of global lifestyle. He said that improvement in infrastructure has also promoted demands and prices in Delhi-NCR.
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