Delhi-NCR records 16% Y-o-Y surge in housing prices
Real Estate

Delhi-NCR records 16% Y-o-Y surge in housing prices

CREDAI, Colliers, and Liases Foras, the housing prices in Delhi-NCR experienced the highest increase among the top eight cities, rising by 16% in the January-March period. The surge in prices can be attributed to the growing demand and increased construction costs. The joint report, titled 'Housing Price-Tracker Report Q1 2023,' was published.

Housing prices in the top eight cities showed an 8% year-on-year increase. Delhi-NCR witnessed the most substantial rise in residential prices, with a 16% Y-o-Y increase, followed by Kolkata and Bengaluru, which saw 15 percent and 14 percent YoY increases, respectively.

The report noted that housing prices in Delhi-NCR have been steadily rising for the past 11 quarters. It specifically highlighted the significant price surge of 59 percent YoY in Dwarka Expressway, primarily driven by the opening of the Central Peripheral Road and the loop connecting Dwarka Expressway with NH-8.

Golf Course Road in Gurugram experienced a surge of 42% Y-o-Y in housing prices, making it the highest-priced area in the NCR region, surpassing rates in Delhi.

The data revealed an 11% Y-o-Y increase in housing prices in Ahmedabad during the January-March period, averaging Rs 6,324 per square feet. Bengaluru witnessed a 14% price increase, reaching Rs 8,748 per square feet, while Chennai saw a modest rise of 4%, reaching Rs 7,395 per square feet. Hyderabad experienced a 13% appreciation in residential property prices, amounting to Rs 10,410 per square feet. Kolkata witnessed a 15% rise, reaching Rs 7,211 per square feet. Delhi-NCR saw a 16% Y-o-Y increase, reaching Rs 8,432 per square feet. Pune recorded an 11% increase in rates, reaching Rs 8,352 per square feet.

On the other hand, the Mumbai Metropolitan Region (MMR) witnessed a 2% decrease in prices, amounting to Rs 19,219 per square feet.

CREDAI, Colliers, and Liases Foras, the housing prices in Delhi-NCR experienced the highest increase among the top eight cities, rising by 16% in the January-March period. The surge in prices can be attributed to the growing demand and increased construction costs. The joint report, titled 'Housing Price-Tracker Report Q1 2023,' was published. Housing prices in the top eight cities showed an 8% year-on-year increase. Delhi-NCR witnessed the most substantial rise in residential prices, with a 16% Y-o-Y increase, followed by Kolkata and Bengaluru, which saw 15 percent and 14 percent YoY increases, respectively. The report noted that housing prices in Delhi-NCR have been steadily rising for the past 11 quarters. It specifically highlighted the significant price surge of 59 percent YoY in Dwarka Expressway, primarily driven by the opening of the Central Peripheral Road and the loop connecting Dwarka Expressway with NH-8. Golf Course Road in Gurugram experienced a surge of 42% Y-o-Y in housing prices, making it the highest-priced area in the NCR region, surpassing rates in Delhi. The data revealed an 11% Y-o-Y increase in housing prices in Ahmedabad during the January-March period, averaging Rs 6,324 per square feet. Bengaluru witnessed a 14% price increase, reaching Rs 8,748 per square feet, while Chennai saw a modest rise of 4%, reaching Rs 7,395 per square feet. Hyderabad experienced a 13% appreciation in residential property prices, amounting to Rs 10,410 per square feet. Kolkata witnessed a 15% rise, reaching Rs 7,211 per square feet. Delhi-NCR saw a 16% Y-o-Y increase, reaching Rs 8,432 per square feet. Pune recorded an 11% increase in rates, reaching Rs 8,352 per square feet. On the other hand, the Mumbai Metropolitan Region (MMR) witnessed a 2% decrease in prices, amounting to Rs 19,219 per square feet.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code