India’s real estate market witnessed a 10% year-on-year (YoY) price increase in Q4 2024 across its top eight cities, according to a report by CREDAI, Colliers, and Liases Foras. Delhi NCR led the surge with a 31% YoY price hike, driven by luxury housing demand and key infrastructure projects like Jewar International Airport. Dwarka Expressway and Greater Noida saw price jumps of 58% and 52% YoY, respectively.
Ahmedabad recorded a 15% price increase, fueled by investor confidence and infrastructure growth, making it a top investment destination. Pune saw a 9% price rise, with a 14% drop in unsold inventory, the highest decline among major cities. Chennai experienced a 6% price hike, with a 7-10% decline in unsold stock, as IT corridors and suburban areas attracted homebuyers.
The Mumbai Metropolitan Region (MMR) saw a 3% YoY price increase, driven by premium housing demand, despite holding 40% of India’s unsold inventory. However, inventory levels in MMR declined for the first time in three years, signaling renewed buyer confidence.
Hyderabad’s market remained stable, with a 2% YoY price rise and a 13% inventory drop, making it a key mid-segment investment hub. Kolkata’s housing market saw a 1% annual price increase and 7-10% lower unsold inventory, as commercial growth and infrastructure expansion fueled demand in New Town and Rajarhat.
India’s booming housing sector continues to attract investors and homebuyers, with rising infrastructure projects, declining inventory levels, and strong market sentiment driving sustained real estate growth.
© 2023 Rera News. All rights reserved.