The weighted average launch price of homes in India’s top 9 cities rose by 9% in FY 2024-25 to Rs 13,197 per sq. ft. as compared to Rs 12569 per sq. ft. in FY 2023-24, according to PropEquity. The top 9 cities are Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Navi Mumbai, Thane and Pune.
In the last year, housing prices rose the most in Kolkata by 29%, followed by Thane (17%), Bengaluru (15%), Pune (10%), Delhi-NCR (5%), Hyderabad (5%) and Chennai (4%). Housing Prices fell by 3% each in Mumbai and Navi Mumbai.
The weighted average price of new launches in various Indian cities has shown a mix of increases and decreases in the fiscal year 2024-25 compared to 2023-24. Bengaluru saw a significant rise of 15%, with the price per square foot increasing from Rs 8,577 to Rs 9,852. Kolkata experienced a 29% surge, from Rs 6,201 to Rs 8,009. Chennai and Hyderabad both had moderate increases, with Chennai rising by 4% to Rs 7,989 and Hyderabad growing by 5% to Rs 8,306.
In contrast, Navi Mumbai and Mumbai saw slight declines of 3%, with prices dropping to Rs 12,855 and Rs 34,026, respectively. Pune and Thane reported positive growth, with Pune increasing by 10% to Rs 10,832 and Thane rising by 17% to Rs 12,880. Delhi NCR had a 5% increase, bringing the price per square foot to Rs 14,020. Overall, the national average for new launches stood at Rs 13,197, reflecting a 9% increase compared to the previous fiscal year.
However, in the last two financial years (FY23-25), housing prices have risen by 18% with Bengaluru recording the highest growth at 44%, Kolkata (29%), Chennai (25%), Thane (23%), Delhi-NCR (20%), Pune (18%), Navi Mumbai (13%), Mumbai (11%) and Hyderabad (5%).
