The average residential prices in key micro markets across the top seven Indian cities registered a significant surge in the last three years, with the Gachibowli and Kondapur areas in the southern city of Hyderabad recording the highest jump of 33 percent and 31 percent respectively, a latest industry report said.
Bengaluru’s Whitefield posted the third highest rise in average residential prices at 29 percent during October 2020 – October 2023, according to the latest Anarock Research data.
Key areas in Mumbai and Delhi National Capital Region (NCR) saw average prices surge between 13-27 percent in this three-year span.
Prashant Thakur, Regional Director & Head – Research, ANAROCK Group, said backed by strong demand, housing sales across the top 7 Indian cities have created a new peak in 2023, with sales far exceeding the previous peak of 2014.
“Led by both robust demand and increased input costs, there has been a significant surge in average housing prices across key micro markets in the top 7 cities,” he said.
The end of October, marking the end of the festive season, typically denotes the culmination of the year’s peak housing sales period.
“Among the top 7 cities, key areas in the IT-led cities Hyderabad, Bengaluru and Pune saw the highest surge in average prices,” Thakur said.
Follow us on
