Residential Prices in Seven Indian Cities See 45% Rise in Five Year: Anarock

                Real estate consultant Anarock stated that 
residential prices in India’s top seven cities 
have surged, driven by high-demand areas and 
increased new supply. Among the shortlisted 
localities by the firm, Bengaluru’s Bagaluru 
recorded the highest price appreciation of 90 
per cent between 2019 and the first half of 
2024.
“With the new supply of about 17,065 units in 
the period, the average residential prices at 
Bagaluru jumped from Rs 4,300 per square 
foot in 2019 to about Rs 8,151 per square foot 
in 
H1 2024,” says Anuj Puri, chairman, Anarock 
Group.
“A deeper dive reveals that of the total new 
supply launched in this micro market since 
2019, over 94 per cent was in the price bracket 
of Rs 40 lakh to Rs 1.5 crore—the mid and 
premium segments. The remaining 6 per cent 
was in the luxury segment priced above Rs 1.5 
crore. There was no new affordable supply in 
this locality,” Puri added.
Next, Hyderabad's Kokapet saw an 89 per cent 
price appreciation, with rates rising from Rs 
4,750 to Rs 9,000 per square foot, according to 
the Anarock survey. Approximately 12,920 
new units were launched during this period. 
Notably, 52 per cent of new launches were in 
the ultra-luxury segment (over Rs 2.5 crore), 
followed by 30 per cent in mid and premium 
segments, while 19 per cent fell in the Rs 1.5 to 
Rs 2.5 crore luxury range.
Marking the third, Bengaluru’s Whitefield 
recorded about an 80 per cent rise in 
residential prices in the period. The area 
witnessed close to 18,600 units launched 
between 2019 and 
H1 2024; over 66 per cent was in the mid and 
premium budget category, and the remaining 
34 per cent was in the luxury homes segment. 
In this pocket, average prices increased to 
Rs 8,600 per square foot in H1 2024 from Rs 
4,765 per square foot in 2019.
As per the report, NCR’s (National Capital 
Region) Dwarka Expressway ranked fourth. It 
saw a 79 per cent price appreciation, with 
average prices rising from Rs 5,359 per square 
foot 
in 2019 to over Rs 9,600 per square foot in H1 
2024. Bengaluru’s Sarjapur Road followed with 
a 58 per cent jump, while Hyderabad’s 
Bachupally and Tellapur recorded 57 per cent 
and 53 per cent growth, respectively. MMR’s 
(Mumbai Metropolitan Region) Panvel and 
Dombivli, besides NCR’s New Gurugram, saw 
price increases ranging from 40 per cent to 50 
per cent.
“Housing price growth accelerated after the 
pandemic, particularly if we consider the last 
two years. As per our data, the top 7 cities 
collectively saw over 44 per cent price 
appreciation 
in the last five years. At a city level, Hyderabad 
recorded the highest jump of 64 per cent 
between 2019 and H1 2024, followed by 
Bengaluru with a 57 per cent increase. The 
lowest 
price growth of 25 per cent was seen in 
Kolkata. NCR and MMR both witnessed a 48 
per cent price appreciation each in this period,” 
Puri stated further.



Source : The Economic Time