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Delhi-NCR's primary housing market saw an average increase of 24 per cent annually during the July-September period due to better demand, especially for luxury homes, according to Anarock. Real estate consultant Anarock data showed that the average price of residential properties across Delhi-NCR at Rs 8,900 per sq ft during July-September from Rs 7,200 per square foot in the year-ago period. Gurugram, Noida, Greater Noida, Delhi, and Ghaziabad are major markets in Delhi-NCR. Overall, across seven major cities of India, the consultant mentioned that the housing prices rose 9 per cent to Rs 9,105 per sq ft from Rs 8,390 per sq ft. Among seven cities, Delhi-NCR saw the maximum rise of 24 per cent. Mumbai Metropolitan Region (MMR) remained the most expensive housing market. Housing prices in MMR rose 6 per cent to Rs 17,230 per sq ft from Rs 16,300 per sq ft. In Bengaluru, the prices appreciated by 10 per cent to Rs 8,870 per square foot from Rs 8,100 per square foot. The prices o
Bengaluru's Sarjapur Road and Thanisandra Main Road have witnessed around 80 per cent growth in average housing prices in the past three and a half years, according to Anarock. Real estate consultant Anarock data showed that the average housing prices at Sarjapur Road appreciated by 79 per cent to Rs 10,800 per sq ft in April-June this year from Rs 6,050 per sq ft at 2021-end. Thanisandra Main Road, located in the north Bengaluru, saw an 81 per increase in prices to Rs 9,700 per sq ft from Rs 5,345 per sq ft. "Sarjapur Road has long been part of Bengaluru's eastern IT corridor, but the promise of the Red Line Namma Metro connecting Hebbal to Sarjapur has fuelled a fresh wave of interest," the consultant said. Thanisandra Main Road's proximity to Manyata Tech Park and improving road connectivity have made it a magnet for mid-to-upper-income IT professionals, it added. Rental values too have increased sharply at Sarjapur Road and Thanisandra Main Road by 81 per cent. Across 14 ke
The Reserve Bank on Tuesday launched three key surveys, including inflation expectations, to gather useful inputs for monetary policy decisions. The RBI normally holds six bi-monthly monetary policy reviews in a financial year. The last meeting was held earlier this month, and the next meeting of the Monetary Policy Committee is scheduled for June 4-6. The May round of the Inflation Expectations Survey of Households (IESH) aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities. The central bank said the Urban Consumer Confidence Survey (UCCS) seeks qualitative responses from households, regarding their sentiments on the general economic situation, employment scenario, price level, and households' income and spending. This study, too, will be carried out in 19 cities. The Rural Consumer Confidence Survey (RCCS) will collect current perceptions and one-year-ahead expectations of households on general
India's eight major cities saw an average 11 per cent increase in housing prices annually during the September quarter on strong demand, with Delhi-NCR witnessing the highest appreciation at 32 per cent, according to a report. Realtors' apex body CREDAI, real estate consultant Colliers and data analytic firm Liases Foras on Monday released their joint 'Housing Price-Tracker Report Q3 2024'. "Average housing prices across the top eight markets in India rose 11 per cent Y-o-Y (year-on-year) at Rs 11,000 per sq ft during Q3 (July-September) 2024, led by sturdy demand and positive market sentiments," the report said. The average housing prices have increased for the 15th consecutive quarter since 2021. All the eight major cities saw an annual increase in housing prices, the consultant said. Delhi-NCR witnessed the highest rise at 32 per cent Y-o-Y, followed by Bengaluru at 24 per cent Y-o-Y rise during the July-September period. According to the data, the average housing prices in .
The average cost of construction for housing projects in big cities has increased by 39 per cent in the last four years to Rs 2,780 per sq ft, with building materials and labour becoming expensive, according to Colliers India. Real estate consultant Colliers India data shows that the average construction cost for premium housing projects stood at Rs 2,000 per square feet in October 2020. The construction cost rose to Rs 2,200 per square feet in October 2021, Rs 2,300 per sq ft in October 2022, Rs 2,500 per sq ft in October 2023 and Rs 2,780 per square feet in October 2024. Colliers India said these are average costs for a Grade A residential building of 15 floors. The data pertains to tier-I cities. Over the last one year, the consultant said the average cost of construction of housing projects rose 11 per cent due to a significant surge in labour costs coupled with a moderate price increase in construction materials like sand, brick, glass, wood etc. Notably, the cumulative effec