Housing prices rise in 43 cities, affordability remains strong

01 Sep 2023 CW Team

According to the National Housing Bank (NHB), housing prices experienced an upswing in 43 cities during the first quarter of the 2023-24 fiscal year, while residential unit rates declined in seven cities. The NHB's Housing Price Index (HPI) reveals that home loan rates continue to be lower than pre-pandemic levels, contributing to overall healthy affordability.

Notable property price appreciation was observed in several key primary residential markets. Ahmedabad led with a significant 9.1 per cent increase in property prices, followed closely by Bengaluru at 8.9 per cent and Kolkata at 7.8 per cent during the April-June 2023 period.

Additionally, other cities displayed annual increases in the HPI, including Hyderabad (6.9 per cent), Pune (6.1 per cent), Mumbai (2.9 per cent), Chennai (1.1 per cent), and Delhi (0.8 per cent).

The 50-city HPI, based on property valuation prices collected from banks and housing finance companies, reported an annual increase of 4.8 per cent in the first quarter of FY24 compared to 7 per cent the previous year. This change varied across cities, ranging from a 20.1 per cent increase in Gurugram to a 19.4 per cent decline in Ludhiana.

On a sequential (quarter-on-quarter) basis, the 50-city index expanded by 0.7 per cent in April-June 2023, compared to 1.3 per cent in the preceding quarter. Since June 2021, the index has shown a consistent upward trend on a quarter-on-quarter basis. Notably, Chandigarh recorded the highest sequential increase at 4.9 per cent, while Navi Mumbai, Ludhiana, Howrah, and Bhiwadi experienced sequential declines of more than 2 per cent in the HPI during the quarter, with Navi Mumbai recording the largest decline of 5.9 per cent.

On a sequential basis, the 50-city index observed a 2.3 per cent increase during the quarter, compared to 2.6 per cent in the previous quarter, indicating the dynamic nature of the real estate market across urban areas.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..