India's housing market saw a notable 11% annual rise in prices during the September quarter, driven by robust demand and favorable market conditions. Delhi-NCR recorded the sharpest increase at 32%, according to a joint report by CREDAI, Colliers, and Liases Foras. The report, titled Housing Price-Tracker Report Q3 2024, highlights trends across eight major cities in the country.
During Q3 2024, the average housing price across these cities reached ₹11,000 per square foot, marking the 15th consecutive quarterly increase since 2021. All eight cities experienced a year-on-year price hike, underscoring sustained demand for residential properties.
Delhi-NCR led the surge, with average prices climbing to ₹11,438 per square foot during July-September 2024, compared to ₹8,655 per square foot in the same period last year. Bengaluru followed with a 24% rise, with prices increasing from ₹9,471 to ₹11,743 per square foot.
These figures are based on carpet area, reflecting the growing appetite for urban housing amid evolving buyer preferences and market dynamics. The upward trend highlights optimism in the real estate sector, making it a critical period for both developers and buyers to strategize.
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