Property values in the National Capital Region (NCR) have shown significant increase in a rather short time span as the country’s rich continue to pour millions in this highly-promising residential market, inspired by lifestyle aspirations. According to the latest findings of the Housing Price Index (HPI), a leading indicator of price trends in India’s key realty markets, Delhi-NCR, with an HPI reading of 178, has outperformed its peers, primarily driven by strong end-user demand, investor interest and significant value appreciation in key micro-markets such as New Gurgaon, Noida Extension and Dwarka Expressway.
Developed jointly by Housing.com and global business school Indian School of Business (ISB), the HPI serves as a tool that tracks changes in residential home prices across India’s 13 major markets.
All-India HPI moves 2 points up in Sept; Bengaluru, Kolkata show 12-point jump
The All-India HPI reached 128 in September, marking a 2-point quarter-on-quarter increase, reflecting steady growth in property values across major residential hubs. These findings reaffirm the strength of India’s residential real estate market, as it navigates global and domestic challenges while responding to evolving buyer needs, the report notes.
Also Read Investment rate to rise to mid-30s in five years: Nageswaran Emerging housing trends fueling real estate boom in Tier 2 and 3 cities Suburban Surge: Peripheral housing prices in top cities outgrow prime locations This Vivek Oberoi-backed firm sees strong debuts on BSE SME; lists 25% above issue price
Other cities that have displayed significant improvement in price growth include Bengaluru and Kolkata. Demand-driven growth in micro-markets such as Varthur and Devanahalli triggered value growth in India’s IT capital: the city saw its reading jump 12 points, from 155 to 167, from June to September. The reading for Kolkata showed a similar jump, from 138 to 150 in the same period.
Also Read: Inflation Calculator: How much will a Rs 50 lakh home or car cost after 10 years?
“With an improvement in infrastructure and connectivity, Kolkata is gradually showing improvements in terms of liveability. Despite a sharp price rise, the city remains more affordable than other metros, providing it a certain edge, especially to people looking for post-retirement homes,” says the report.
‘Rising property values reflect a stable, maturing market’
Amit Masaldan, Chief Revenue Officer,
» Read More
