Prices in Delhi NCR increased from Rs 13,396 per sq ft to Rs 14,020.
During the last financial year i.e. 2024-25, the trend of jump in the price of houses has been seen. Real Estate Data Analytic firm Propkets said on Thursday that the newly launched residential projects in nine major cities of the country increased weight average prices by 9 percent. According to PTI news, prices have been seen to rise due to high input costs. According to the propITT, the weighted average launch price of homes rose 9 percent to Rs 13,197 per sq ft in 2024-25, compared to Rs 12,569 per sq ft in the last year.
Strong boom in these big cities
Statistics from the real estate data analytic firm show that such projects have increased the highest 29 percent prices in Kolkata, followed by 17 percent in Thane, 15 percent in Bengaluru, 10 percent in Pune, 5 percent in Delhi-NCR, 5 percent in Hyderabad and 4 percent in Chennai. However, the prices of homes in Mumbai and Navi Mumbai declined by 3 percent. Firm’s founder and CEO Sameer Jasuja said that there has been a decrease in demand and supply in the last one year, but in the last few years, housing prices have increased due to increase in input costs including land, labor and construction materials.
How much prices increased to
According to the data, the weighted average housing prices in the new projects in Bengaluru increased from Rs 8,577 per sq ft to Rs 9,852 in the 2024-25 financial year. In Kolkata, the average rate increased from Rs 6,201 per sq ft to Rs 8,009. The rates in Chennai increased from Rs 7,645 per sq ft to Rs 7,989. Hyderabad increased from Rs 7,890 per sq ft to Rs 8,306, while in Pune from Rs 9,877 per sq ft to Rs 10,832.
In Thane, the average rates increased from Rs 11,030 per sq ft to Rs 12,880. The same prices in Delhi NCR increased from Rs 13,396 per sq ft to Rs 14,020. The rates in Navi Mumbai decreased from Rs 13,286 per sq ft to Rs 12,855. In Mumbai too, in the last financial year, Rs 35,215 per sq ft declined to Rs 34,026 per sq ft.
Kiya says veteran
Angad Bedi, CMD of BCD Group in Bangalore, said that the rapid rise in new launch prices in the top Indian cities reflects strong and user demand, stable investor trust and rising construction costs. Similarly, Bhavesh Kothari, the founder and CEO of Property First, said that this trend indicates strong investor emotions and focus on premium offers in major places.
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