Average property prices in top 7 cities increase 14%, rise most in Pune

Average property prices in the top 7 cities (2013-2020-end) saw close to an increase of 14 per cent. 

The average price of a home in the top 7 cities rose from around Rs 4,895 per square ft in 2013 to Rs 5,599 per sq ft by 2020-end. 

Among the top 7 cities, Pune saw the maximum rise of 38 per cent during the period. This was followed by Bangalore and Hyderabad with 20 per cent growth each. 

Affordability of homes – calculated as the ratio of home loan repayment to income – is expected to touch 27 per cent in FY21 (as against 53 per cent in FY12). 

With housing prices remaining range-bound over the past 7-8 years, the pickup in demand will eventually cause prices to harden again, said a report by Anarock Property Consultants.