Home prices in Delhi-NCR: Property consulting firm Anarock has said in a major report that the demand for homes is constantly increasing in these seven big cities of the country, Delhi NCR, Mumbai Metropolitan Region, Bangalore, Pune, Hyderabad, Chennai and Kolkata. In the year 2024, the price of residential property in these cities increased between 13-30 percent. The reason for this is the increase in cost and increasing demand for homes.

 Highest rate in Delhi-NCR

The maximum increase of up to 30 percent was seen in Delhi-NCR, where the price per square feet was Rs 5,800 in the year 2023, while within just one year in the year 2024, it increased to about Rs 7,550 per square feet.

If we talk about Mumbai Metropolitan Region, then it has increased by 21 percent in one year. At present, the price per square feet has increased from Rs 13,700 to Rs 16,600 per square feet. At present, the market of Mumbai Metropolitan Region is the most expensive for property, but the growth rate here is less than NCR.

Prices also increased in Bengaluru and Hyderabad

In Bengaluru, which is considered a hot spot for tech professionals, the price per square feet is currently Rs 8,380, whereas in the year 2023, residential property here was sold at the rate of Rs 6,550 per square feet. That is, there was an increase of up to 28 percent.

The price of residential property in Hyderabad increased by 27 percent between the years 2023-24. While earlier they were sold at the rate of 5,750 square feet, at present their rate is Rs 7,300 per square feet. 

The situation of Pune, Chennai and Kolkata

The price per square feet in Pune is currently Rs 7,720, while in 2023 it was Rs 6,750 per square feet. That is, the rate increased by up to 14 percent during this period. In Chennai too, the rate increased by 14 percent during this period. In the year 2023, residential property here was sold at Rs 5,950 per square feet, while in 2024 the sale took place at the rate of Rs 6,790 per square feet. In Kolkata, the property rate increased the least between 2023-24. Currently here it is Rs 5,820 per square feet, while in 2023 it was Rs 5,150. 

With rising rates, all these seven major cities witnessed a decline in home sales by up to 4 per cent this year.