In the post-pandemic period, property prices have risen exponentially across the top 7 Indian cities: Bengaluru, Pune, Hyderabad, NCR, MMR, Kolkata, and Chennai. Property rates in key micro markets of these cities have grown by as much as 128% between 2021-end and 2024-end, according to the latest data by ANAROCK Property Consultants.
In the NCR (National Capital Region), average capital values rose by 128% to Rs 13,000 per sq/ft last year from Rs 5,700 per sq/ft three years ago, ANAROCK data showed.
Another emerging prime location in the NCR, Sohna Road in Gurugram, saw average capital values surge by 59% to Rs 10,500 per sq/ft in 2024-end from Rs 6,600 per sq/ft in 2021-end.
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Mumbai property markets remained the most expensive
Though NCR’s Noida Sector 150 logged the highest appreciation in the average property values in the three years, MMR (Mumbai Metropolitan Region) continued to be the most expensive real estate market for buyers. Average property price in Mumbai’s Chembur surged to Rs 27,800 per sq/ft last year, compared to Rs 18,735 per sq/ft three years ago—a significant jump of 48%. In the Mulund area of MMR, the average price of properties rose by 43% to Rs 24,200 from Rs 16,917 per sq/ft in three years.
Average property rates in other major property markets
Bengaluru
According to ANAROCK data, the average property price in Sarjapur Road of Bengaluru jumped by 63% to Rs 9,850 per sq/ft from Rs 6,050 in a three-year period till 2024-end. The price rise was even higher in the Thanisandra Main Road of the city, with average value of property surging 67% to Rs 8,900 per sq/feet in 2024 from Rs 5,345 per sq/feet in 2021-end.
Hyderabad
The average property rates in the city have risen by up to 78% in three years. HITECH City of Hyderabad saw the average value of property rise by 62% to Rs 9,300 per sq/ft from Rs 5,753 per sq/ft at the end of 2024. Gachibowli property rates saw an average 78% growth at Rs 8,900 per sq/ft in 2024-end. The average rate stood at Rs 5,010 per sq/ft in 2021-end.
Pune
Compared to NCR, MMR, Hyderabad, and Bengaluru property markets, the average property rate growth in Pune has been somewhat moderate in the last three years.
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