The upward trend in housing prices is evident across all top eight cities, with Bengaluru witnessing the maximum price increase of 19%. Delhi-NCR followed closely with a 16% growth, while Ahmedabad and Pune registered an impressive 13% annual increase. Hyderabad, Chennai, and Kolkata also experienced growth in housing prices, ranging from 4% to 9%. Mumbai Metropolitan Region (MMR) saw a moderate 6% increase in prices.
The surge in housing prices is a direct result of the strong housing demand witnessed across the country, particularly in premium and luxury housing. The stable lending environment and the emergence of new micro-markets driven by infrastructure projects have further fueled this demand.
Unsold inventory at an India level witnessed a marginal 3% year-over-year (YoY) increase, with Pune leading with a notable 10% YoY drop in unsold inventory. Delhi-NCR and Ahmedabad also recorded an 8% annual reduction in unsold inventory.
The residential real estate sector in India remains optimistic, with experts expecting further growth in the coming quarters. The demand for housing units across categories, especially in the luxury and ultra-luxury segments, is likely to remain robust, attracting developers to launch more upscale projects.
