Delhi-NCR is the true property hub with the highest capacity. In all of India, the NCR had the most increase in personal property costs, up 14% YoY. The Golf Course Road neighborhood in Ghaziabad had the largest rate increase, at 21%.
A combined analysis by CREDAI, Colliers India, and Liaise Foras found that the property market in Delhi-NCR (National Capital Region) saw the most annual rate rise of 14% from July to September, with a mean price of $7,741 per rectangle foot. The cost of raw materials rose between July and September 2022, which led to an increase in housing costs of 6% across 8 cities. CREDAI is the primary organization for Indian real estate developers, whereas Liases Foras conducts fact analyses and Colliers India offers real estate consultancy services.
In all of India, Delhi NCR saw the best year-over-year increase in housing costs, at 14%. According to the joint report, Golf Course Road, which is located through Ghaziabad, experienced the greatest rate of growth, at 21%.
According to the research, during July and September of this year, Kolkata’s average domestic rate increased 12% YoY to 6,594 per rectangular foot. Average costs increased by 11% in Ahmedabad to Rs. 6,077 per square foot, while they increased by 9% in Pune to Rs. 8,013 per square foot. Hyderabad saw an increase of 8% in the cost per square foot of housing, reaching $926. In Bengaluru, prices increased 6% to Rs. 8,1/2 per square foot. In Chennai and the Mumbai Metropolitan Region (MMR), the cost of a home remained stable at 7,222 and 19,485 rupees per square foot, respectively. According to the research, since the beginning of 2022, housing costs have been rising due to increased demand that has been apparent over the last year, as well as a rise in input costs.