Housing price up 10-30% in 1 yr, Kolkata sees biggest hike, Mumbai down 3%

Housing prices have appreciated between 10-30% in Bengaluru, Kolkata, Pune and Thane in the last year, according to data analysed by PropEquity, an NSE-listed data analytics firm.

 

The weighted average launch price of homes in India’s top 9 cities rose by 9% in FY 2024-25 to Rs 13,197 per sq. ft. as compared to Rs 12,569 per sq. ft. in FY 2023-24.

 

The top 9 cities are Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR,  Mumbai, Navi Mumbai, Thane and Pune. In the last year, housing prices rose the most in Kolkata by 29%, followed by Thane (17%), Bengaluru (15%), Pune (10%), Delhi-NCR (5%), Hyderabad  (5%) and Chennai (4%).

 

Housing Prices fell by 3% each in Mumbai and Navi Mumbai. 

 

"While the demand and supply have been subdued in the past year, the rise in input cost, including land, labour and construction material, over the past couple of years have led to firming up of housing prices. Although the price appreciation has been growing at a slower rate. Average housing prices grew by 12% in the top 9 cities FY24," said Samir Jasuja, Founder and CEO, PropEquity.

 

However, in the last two financial years (FY23-25), housing prices have risen by  18% with Bengaluru recording the highest growth at 44%, Kolkata (29%),  Chennai (25%), Thane (23%), Delhi-NCR (20%), Pune (18%), Navi Mumbai  (13%), Mumbai (11%) and Hyderabad (5%).

 

According to the PropEquity report, housing sales have dipped 23% to 1,05,791  units while supply dipped by 34% to 80,774 in Jan-March of 2025.

 

Key highlights of the report: 

< The weighted average price of new launches in Southern cities  (Bengaluru, Chennai and Hyderabad) continue to be in sub-Rs 10,000  per sq. ft. level in FY25

< The weighted average price of new launches in Pune has breached  the Rs 10,000 per sq. ft. mark in FY25

<  Mumbai and Navi Mumbai saw a price decline of 3% each

< Chennai remains the least expensive housing market amongst the top 9  cities with an average launch price of Rs 7989 per sq. ft. while Mumbai remains the most expensive at Rs 34,026 per sq. ft.