Housing Prices Rise Up To 11 Percent in January-March
Housing prices increased by up to 11 per cent annually across eight major cities during January-March period of this year due to a rise in demand for residential properties and a sharp hike in rates of construction raw materials, according to a joint report by CREDAI, Colliers and Liases Foras. Delhi-NCR witnessed highest rise in housing prices by 11 per cent to Rs 7,363 per sq ft during January-March 2022 as compared to the year-ago period, as per the first edition of Housing Price-Tracker report by realtors body CREDAI, real estate consultant Colliers and data analytics firm Liases Foras. Hyderabad witnessed 9 per cent increase in housing prices to Rs 9,232 per square feet, while Ahmedabad saw a 8 per cent appreciation to Rs 5,721 per square feet and Kolkata 6 per cent to Rs 6,245 per square feet. Housing prices in Bengaluru, Chennai and Mumbai Metropolitan Region (MMR) rose by 1 per cent each at Rs 7,595, Rs 7,107 and Rs 19,557 per square feet, respectively.
In Pune, prices of residential properties went up by 3 per cent to Rs 7,485 per square feet during the first quarter of this calendar year. The average residential prices in India rose by 4 per cent YoY (year-on-year) during January-March 2022 after a prolonged slowdown, indicating that the residential market is on its path to recovery.
Tags : Housing Prices Rise Up January-March Hyderabad raw materials Bengaluru Chennai Mumbai Metropolitan Region (MMR)