Report: House prices rise by 11% in top-8 cities, highest rise of 32% in Delhi-NCR
New Delhi| House prices in the top-8 cities of the country have increased by 11 per cent year-on-year in the July-September quarter of the current financial year due to strong demand. Delhi-NCR has gained the most by 32 per cent. Average house prices have risen for the 15th consecutive quarter since 2021, according to a joint report by Credai, Colliers and Liaces Foras.
According to the report, the average price of houses has increased to Rs 11,000 per square foot in the September quarter due to strong demand and positive market sentiment. In Delhi-NCR, the price increased by 32 per cent from Rs 8,655 per square foot to Rs 11,438 per square foot. The lowest increase of two percent has been recorded in Chennai. House prices have increased by 24 per cent in Bangalore, 16 per cent in Ahmedabad, 10 per cent in Pune, four per cent in the Mumbai Metropolitan Region. The average price in Hyderabad and Kolkata has increased by three percent each.
The total investment in Indian real estate from the Alternative Investment Fund (AIF) has reached Rs 75,500 crore. This is the highest investment of AIF compared to all sectors. According to SEBI, 17 per cent of AIF’s total investment of 4.49 lakh crore in the first half has come in real estate. Last year it was 68,540 crore.
