According to a joint analysis by CREDAI, Colliers, and Liases Foras, housing prices surged by up to 11% yearly in eight major cities from January to March this year due to rising demand for residential properties and sharp increases in building raw material charges. Housing prices in Delhi-NCR increased by 11% to Rs 7,363 per sq ft in January-March 2022, compared to the same period the previous year.
Housing prices in Hyderabad rose 9% to Rs 9,232 per sq ft, while in Ahmedabad they rose 8% to Rs 5,721 per sq ft and in Kolkata they rose 6% to Rs 6,245 per sq ft.
Bengaluru, Chennai, and the Mumbai Metropolitan Region (MMR) all saw a 1% increase in housing costs, to Rs 7,595, Rs 7,107, and Rs 19,557 per sq ft, respectively.
Residential property prices in Pune increased by 3% to Rs 7,485 per sq ft in the first quarter of this calendar year.
