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The NH-24 bypass in Ghaziabad has witnessed a rise in residential prices by around 30 per cent in the last year.
Mumbai remains the most expensive in the real estate market. (Representative Image)
Metro cities have experienced a significant rise in their housing prices, with the likes of Bengaluru, Mumbai and Delhi-NCR reporting notable surges in recent years. According to a Knight Frank Research report, prices of residential properties in Delhi-NCR and Bengaluru have increased by 14 per cent each in the last 12 months, which means buying a house will cost around Rs 5,535/sqft. Bengaluru has gone a notch higher with Rs 7,052/sqft. Hyderabad follows the line with an 11 per cent annual price increase, whereas Mumbai went up by 8 per cent.
With these changes, Mumbai still remains the most expensive in the real estate market, going for a price of Rs 8,532/sqft in India, compared to other cities. Read along to check the breakdown of price rises in Indian cities.
Housing Prices In Indian Cities
The NH-24 bypass in Ghaziabad has witnessed a rise in residential prices by around 30 per cent in the last year. This was followed by the Raj Nagar extension in Ghaziabad and Greater Noida, taking the price range as high as Rs 5,500/sqft.
The Knight Frank data suggests a rise of 18 per cent in Bengaluru’s Whitefield and Bannerghatta Road, followed by areas like Marathahalli, Rajajinagar, Thanisandra and Tumkur Road, with the highest movements between 13 to 15 per cent.
House prices in Hyderabad also saw a rise in the Southern and eastern parts of the city. The LB Nagar area in east Hyderabad witnessed an 11 per cent hike, with prices going between Rs 6,950-7,307.
Last but not least, the data also shows central Mumbai recording a price growth in residential properties, with Vashi leaving the bandwagon. Prices in the area went up as high as Rs 20,000. Virar, Goregaon and Andheri had prices up by 6 per cent in the last 12 months.
The data comes at a time when Mumbai, Bengaluru and Delhi have already been ranked among the top 15 global cities for prime residential price growth. As per a report issued by the real estate consultancy firm earlier this year, Bengaluru ranked fourth, while Mumbai was in the fifth position and Delhi in the 15th.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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Delhi, India, India
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