Delhi-NCR Leads with 32% Growth in Residential Prices in Q3 2024
'Housing Price-Tracker Report Q-3 2024' released
Real estate apex body CREDAI, real estate consultant Colliers and data analytics company Liases Foras on Monday released their joint report 'Housing Price-Tracker Report Q3 2024'. Housing prices rose by an average of 11 per cent year-on-year in the July-September quarter on the back of strong demand in eight major cities. Delhi-NCR saw the highest growth of 32 per cent. According to the report based on Q3 2024, "Residential prices in India's top eight markets rose by an average of 11 per cent year-on-year to Rs 11,000 per sq ft in Q3 (July-September) of 2024. The main reason for this is said to be strong demand and positive market sentiment. Average housing prices have increased for the 15th consecutive quarter since 2021. The advisory said that all eight major cities saw an annual increase in housing prices. The eight cities where housing prices rose are Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai and Pune.
Delhi records the highest yearly increase
The Delhi-NCR region saw the highest annual increase at 32 percent, with Bengaluru coming next at 24 percent. According to data, average housing prices in Delhi-NCR jumped 32 percent to Rs 11,438 per square foot in July-September this year, up from Rs 8,655 per square foot during the same period last year. In Bengaluru, prices increased from Rs 9,471 per square foot to Rs 11,743 per square foot year-over-year.