Prices have increased at a higher rate in major micro-markets of major cities. (File)
New Delhi:
A report said that the average housing prices have increased by about 5 per cent since the beginning of this year, as demand improved due to increase in input costs.
The average price of residential properties in the primary markets in the eight cities was Rs 6,600-6,800 per sq ft, up about 5 per cent from Rs 6,300-6,500 at the end of December.
Prices have increased at a higher rate in major micro-markets of major cities like Hyderabad, Bengaluru and Gurugram
Pune sees a 7 per cent rise in prices from Rs 5,500 to Rs 5,700 per square foot (sq ft) in July-September 2022, to Rs 5,100 to Rs 5,300 per sq ft by end-2021. PropTiger.com by Real Insight Report.
Housing prices in Chennai increased by 2 per cent to Rs 5,500 to Rs 5,700 from Rs 5,400 to Rs 5,600 per sq ft.
In Bengaluru, prices increased by 6 per cent to Rs 5,900 to Rs 6,100 per sq ft.
Prices in Delhi-NCR (National Capital Region) rose by 5 per cent to Rs 4,700-4,900 from Rs 4,400-4,600 per sq ft.
Housing prices increased by 4 per cent to Rs 6,100 to Rs 6,300 per sq ft.
Prices rose in Kolkata by 3 per cent to Rs 4,600 per sq ft from Rs 4,400.
In Mumbai, prices rose by 3 per cent to Rs 9,900-10,100 per sq ft.
The average prices of new supplies and existing inventory in the top eight cities increased by 3-13 per cent during July-August this year as compared to the same period last year, the report said.
Ankita Sood, head of research at PropTiger.com, Housing.com and Makaan.com, said: “Apart from the buoyancy of inflation, the premium charged for ready-to-move-in residential units has pushed up prices. Our insight suggests that around 58 per cent of the potential home buyers are looking for ready-to-move-in properties.”
In the current scenario, it is expected that property prices will move within a close range till 2022-end before moderating marginally in the coming year.
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