By HT Real Estate News | Dec 05, 2024 03:32 PM IST
Jaipur records highest growth in property prices at 65% followed by Guntur at 51%. Goa only city to cross the ₹10,000 per sq ft mark, according to PropEquity
Jaipur saw the highest rise in weighted average price of new launch projects at 65% from ₹4240 per sq. ft. to ₹6979 per sq. ft. between 2023-October 2024. (Representational photo)(Unsplash)
The weighted price of new launch projects in the top 30 tier II cities increased by up to 65% between 2023 and October 2024. While 26 cities saw prices rise, four cities witnessed a decline, according to a report by NSE-listed data analytics firm PropEquity.
In North India, Jaipur saw the highest rise in the weighted average price of new launch projects, at 65%, from ₹4240 per sq. ft. to ₹6979 per sq. ft. between 2023 and October 2024. This was followed by Indore (20%) and Dehradun (14%). Sonepat, at 26%, witnessed the highest price fall, followed by Mohali (8%) and Bhopal (5%).
While Agra, Chandigarh and Bhiwadi saw 59%, 34% and 25% growth in prices, respectively, the new launches in these cities were very few (between 3-5 projects) during this period.
According to the report, housing prices fell by up to 26% in cities like Bhopal, Mohali, Sonepat, Trivandrum, and Mysore.
In Southern India, Guntur saw the weighted average price of new launch projects rise by 51% to ₹5169 per sq. ft. between 2023 and October 2024, followed by Mangalore (41%), Visakhapatnam (29%). Mysore and Trivandrum witnessed a price fall of 14% and 4%, respectively.