According Anarock data, Bagaluru of Bengaluru, Kokapet of Hyderabad and Bengaluru White field We have seen maximum price appreciation followed by that of NCR. Dwarka Expressway.
Bengaluru’s Bagaluru recorded the highest price appreciation of 90% between 2019 and H1 2024.
“With a fresh supply of around 17,065 units in the period, average residential prices in Bagaluru increased from Rs 4,300 per sq ft in 2019 to Rs 8,151 per sq ft in H1 2024,” said Anuj Puri, Chairman, Anarock Group.
Of the total new products launched in this micromarket since 2019, over 94% were in the price range of Rs 40 lakh to Rs 1.5 crore in the mid- and premium segments. The remaining 6% were in the luxury segment.
Hyderabad’s Kokapet came close behind with an overall price appreciation of 89 per cent in this period. Bengaluru’s Whitefield is third, registering an 80 per cent rise in residential prices in the period. NCR’s Dwarka Expressway is fourth with a price appreciation of 79 per cent, where average prices rose from Rs 5,359 per sq ft in 2019 to over Rs 9,600 per sq ft in H1 2024.
“Housing price growth accelerated after the pandemic, especially when we look at the last two years. According to our data, the top seven cities collectively experienced a price appreciation of over 44% over the last five years,” said Puri.
At the city level, Hyderabad recorded the highest increase of 64% between 2019 and H1 2024, followed by Bengaluru with an increase of 57%. The lowest price growth of 25% was recorded in Kolkata. NCR and MMR saw a price appreciation of 48% each in this period.
Over the past five years, there has been a huge infusion of new supply across the top 7 cities – over 16,32,650 units between 2019 and H1 2024. City-wise, MMR witnessed the highest supply at 525,430 units in this period, followed by Pune with over 295,550 units. In terms of micro markets, MMR’s Dombivli remained the most active market in this period, with the highest fresh supply.
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