Indian housing prices jump 7%, Kolkata leads with 15%
Real Estate

Indian housing prices jump 7%, Kolkata leads with 15%

Driven by strong demand and favourable interest rates, residential property prices in India's top eight cities saw a notable 7% year-on-year increase. According to a report by CREDAI, Colliers, and Liases Foras, Kolkata led the surge with a substantial 15% YoY increase in residential prices. Delhi NCR and Hyderabad followed, with increases of 14% and 13% YoY, respectively.

CREDAI's President, Boman Irani, highlighted positive sales momentum nationwide, reflecting encouraging buyer sentiment. Despite price rises, stability in repo rates and lending environments is expected to sustain the trend throughout the fiscal year, with the upcoming festive season providing further sales impetus.

Unsold inventory across India increased by 13% YoY due to heightened project launches. Delhi was the only market with decreased unsold inventory.

Colliers India's Peush Jain emphasised consistent upward housing price trends over ten quarters. With a stable 6.5% repo rate since February 2023, positive buyer sentiment has risen, aided by clearer monthly EMI visibility.

Demand for spacious residences and upscale projects raised under-construction housing prices, particularly in Kolkata, Hyderabad, Delhi NCR, and Bengaluru. 3 BHK and 4 BHK home prices increased by 2% to 20% in major cities during Q2.

Liases Foras' Managing Director, Pankaj Kapoor, noted disciplined market behaviour due to significant new launches, which moderated price growth, attracting end-users and investors alike. Kapoor anticipates sustained sales growth, driven by affordability and price balance.

Supported by steady interest rates and increasing disposable incomes, the Indian housing market is poised for continued growth. Q2 saw 81,883 units sold, a 6% YoY rise. New launches contributed 15% to total Q2 2023 sales, driven by well-priced products and strategic locations."


Driven by strong demand and favourable interest rates, residential property prices in India's top eight cities saw a notable 7% year-on-year increase. According to a report by CREDAI, Colliers, and Liases Foras, Kolkata led the surge with a substantial 15% YoY increase in residential prices. Delhi NCR and Hyderabad followed, with increases of 14% and 13% YoY, respectively.CREDAI's President, Boman Irani, highlighted positive sales momentum nationwide, reflecting encouraging buyer sentiment. Despite price rises, stability in repo rates and lending environments is expected to sustain the trend throughout the fiscal year, with the upcoming festive season providing further sales impetus.Unsold inventory across India increased by 13% YoY due to heightened project launches. Delhi was the only market with decreased unsold inventory.Colliers India's Peush Jain emphasised consistent upward housing price trends over ten quarters. With a stable 6.5% repo rate since February 2023, positive buyer sentiment has risen, aided by clearer monthly EMI visibility.Demand for spacious residences and upscale projects raised under-construction housing prices, particularly in Kolkata, Hyderabad, Delhi NCR, and Bengaluru. 3 BHK and 4 BHK home prices increased by 2% to 20% in major cities during Q2.Liases Foras' Managing Director, Pankaj Kapoor, noted disciplined market behaviour due to significant new launches, which moderated price growth, attracting end-users and investors alike. Kapoor anticipates sustained sales growth, driven by affordability and price balance.Supported by steady interest rates and increasing disposable incomes, the Indian housing market is poised for continued growth. Q2 saw 81,883 units sold, a 6% YoY rise. New launches contributed 15% to total Q2 2023 sales, driven by well-priced products and strategic locations.

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?