Housing Prices Surge in Major Indian Cities; Bengaluru Leads Growth

According to a report by PropTiger, a leading real estate consultancy, housing prices in eight key Indian cities recorded an annual increase ranging from 3% to 24% during the January to March quarter. Bengaluru led the surge with a 24% rise in average housing prices, reaching Rs 9,785 per square foot.

Other metropolitan areas also saw significant growth, with Mumbai Metropolitan Region's housing prices climbing by 20% and Delhi-NCR registering an 18% increase. PropTiger noted that this upward trend underscores the resilience and depth of demand in India's housing market.

The Consultant highlighted structural changes in the market, emphasizing a shift towards higher quality demand and inventory discipline. Experts attribute the growth to factors like infrastructure improvements, enhanced connectivity, and increased demand for premium housing across the cities.

Industry leaders echoed these sentiments, with Rishi Raj of Conscient Infrastructure crediting Gurgaon's growth to its transformation over the years, and Deepak Sangwan of Origen Realty pointing to infrastructural developments as a key driver in the price increase.

(With inputs from agencies.)