Telangana Hyderabad among top cities with highest housing price rise in 2023
Buoyed by favorable borrowing rates and an optimistic economic outlook, purchasers' unshakeable optimism caused house demand to skyrocket, driving up prices. According to the survey, there has been a significant rise in the supply of luxury homes, accounting for 10% of the year-over-year increase in housing prices.
Ninety-five percent of the unsold inventory, according to the research, is presently under development in Hyderabad. A key finding from the research for the fourth quarter of 2023 is that the average cost of a square foot of housing in the city is Rs 11,083. In comparison to the average costs of Rs 8,821 per square foot in 2021 and Rs 10,090 per square foot in 2022, this is a significant increase.
Hyderabad: Average residential price trends (Rs/sft)
2021: 8,821
2022: 10,090
2023: 11,083
– Price change (2023 vs 2021): 26%
– Price change (2023 vs 2022): 10%
– Price change (Q4 2023 vs Q3 2023): 0%
Average residential price trends (Rs/sft)
Ahmedabad:
2021: 5,721
2022: 6,203
2023: 6,737
Bengaluru:
2021: 7,609
2022: 8,276
2023: 9,976
Chennai:
2021: 7,182
2022: 7,445
2023: 7,701
Delhi NCR:
2021: 6,958
2022: 8,394
2023: 9,170
Kolkata:
2021: 6,081
2022: 7,144
2023: 7,912
Mumbai Metropolitan Region (MMR):
2021: 19,657
2022: 19,287
2023: 20,047
Pune:
2021: 7,398
2022: 8,379
2023: 9,185