Gurugram leads with 12% YoY property price increase

12 Jul 2023 CW Team

According to some data, the residential property market in India witnessed an average year-on-year price appreciation of 6 per cent during the April-June period of this year. This upward trend in property values is attracting investors to India's key real estate markets, while the increase in new supply is helping to moderate price increases, as explained by Vikas Wadhawan, Group CFO of REA India.

The cities covered in the report include Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region, Delhi-National Capital Region, and Pune. Ankita Sood, Head of Research at REA India, highlighted the growing demand from businesses and large companies in Gurugram. The city's dominance in Grade A commercial development solidifies its position as a preferred choice for businesses.

The data reveals that Ahmedabad experienced a 7 per cent year-on-year increase in property prices during the second quarter of 2023, averaging between Rs 3,700 and Rs 3,900 per square foot. Bengaluru witnessed a 9 per cent increase, with prices averaging between Rs 6,300 and Rs 6,500 per square foot.

In Chennai, prices rose by 3 per cent to Rs 5,800-6,000 per square foot, while Delhi-NCR observed a 6 per cent growth, reaching Rs 4,800-5,000 per square foot. Gurugram, on the other hand, witnessed a significant 12 per cent appreciation, with prices ranging from Rs 7,000 to Rs 7,200 per square foot. Noida experienced an 8 per cent rise, with prices ranging from Rs 5,600 to Rs 5,800 per square foot.

Hyderabad registered a 5 per cent increase, with prices averaging between Rs 6,400 and Rs 6,600 per square foot. Kolkata reported a 6 per cent rise, with prices reaching Rs 4,600-4,800 per square foot.

In Mumbai and Pune, both prominent property markets in Maharashtra, housing prices increased by 3 per cent each. Mumbai's weighted average price stood at Rs 10,100-10,300 per square foot, while Pune's rates were at Rs 5,600-5,800 per square foot.

During the April-June period, housing sales across the eight major cities experienced an 8 per cent annual increase, totalling 80,250 units. This growth in sales can be attributed to increased demand, particularly in Mumbai and Pune. In the same period of the previous year (April-June 2022), sales stood at 74,320 units in the primary residential markets of the top eight cities.

Gurugram has emerged as the city with the highest surge in property prices among the top 10 cities in India during the second quarter of 2023. With a year-on-year increase of 12 per cent, Gurugram has surpassed Bengaluru, which experienced a 9 per cent increase, and Noida, which saw an 8 per cent rise.According to some data, the residential property market in India witnessed an average year-on-year price appreciation of 6 per cent during the April-June period of this year. This upward trend in property values is attracting investors to India's key real estate markets, while the increase in new supply is helping to moderate price increases, as explained by Vikas Wadhawan, Group CFO of REA India.The cities covered in the report include Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region, Delhi-National Capital Region, and Pune. Ankita Sood, Head of Research at REA India, highlighted the growing demand from businesses and large companies in Gurugram. The city's dominance in Grade A commercial development solidifies its position as a preferred choice for businesses.The data reveals that Ahmedabad experienced a 7 per cent year-on-year increase in property prices during the second quarter of 2023, averaging between Rs 3,700 and Rs 3,900 per square foot. Bengaluru witnessed a 9 per cent increase, with prices averaging between Rs 6,300 and Rs 6,500 per square foot.In Chennai, prices rose by 3 per cent to Rs 5,800-6,000 per square foot, while Delhi-NCR observed a 6 per cent growth, reaching Rs 4,800-5,000 per square foot. Gurugram, on the other hand, witnessed a significant 12 per cent appreciation, with prices ranging from Rs 7,000 to Rs 7,200 per square foot. Noida experienced an 8 per cent rise, with prices ranging from Rs 5,600 to Rs 5,800 per square foot.Hyderabad registered a 5 per cent increase, with prices averaging between Rs 6,400 and Rs 6,600 per square foot. Kolkata reported a 6 per cent rise, with prices reaching Rs 4,600-4,800 per square foot.In Mumbai and Pune, both prominent property markets in Maharashtra, housing prices increased by 3 per cent each. Mumbai's weighted average price stood at Rs 10,100-10,300 per square foot, while Pune's rates were at Rs 5,600-5,800 per square foot.During the April-June period, housing sales across the eight major cities experienced an 8 per cent annual increase, totalling 80,250 units. This growth in sales can be attributed to increased demand, particularly in Mumbai and Pune. In the same period of the previous year (April-June 2022), sales stood at 74,320 units in the primary residential markets of the top eight cities.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Infrastructure Urban

19 Sep 2025

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Infrastructure Energy

19 Sep 2025

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..