House Price in India: Property prices are skyrocketing in many cities of the country. After the year 2020, the prices of houses have increased the most in Bagaluru, Bengaluru. According to the report, the prices of houses in Bagaluru have increased the most by 90 percent. At the same time, Dwarka Expressway is at fourth place in Delhi-NCR with a price increase of 79 percent.
According to data released by real estate consultant Anarock, Bengaluru’s Bagaluru recorded the highest price increase of 90 percent between the end of 2019 and June this year. Anarock Chairman Anuj Puri says that the average residential prices in Bagaluru have reached Rs 8151 per square foot in the first half of 2024. Whereas in 2019 it was only Rs 4300 per square foot.
Hyderabad’s Kokapet is in second place
According to the report, Hyderabad Kokapet is at second place in this list with 89 percent price increase. Here the prices have gone up to Rs 9,000 per square feet whereas in 2019 it was Rs 4750 per square feet. Whitefield in Bengaluru is at third place in this list. Here the average prices increased from Rs 4765 per square feet in 2019 to Rs 8600 per square feet in the first half of 2024.
Delhi-NCR Dwarka Express is at fourth place
Dwarka Expressway in Delhi-NCR is at the fourth position with a 79 percent price increase. Here the average prices increased from Rs 5359 per square feet in 2019 to Rs 9600 per square feet in the first half of 2024.
Angad Bedi, Chairman and Managing Director of real estate construction and development company BCD Group, says that the reason for the substantial appreciation in residential real estate in North Bengaluru, Whitefield and Sarjapur Road is the rapid development of infrastructure in these micro markets.
At the same time, Mohit Jain, Managing Director of Crisum Corporation, says that the increase in the price of residential properties in Gurugram, especially around Dwarka Expressway, is mainly attributed to the rapid infrastructure development in the surrounding area.
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