{"id":1372,"date":"2024-10-15T09:12:27","date_gmt":"2024-10-15T09:12:27","guid":{"rendered":"https:\/\/www.homebazaar.com\/news\/?p=1372"},"modified":"2024-10-15T09:12:27","modified_gmt":"2024-10-15T09:12:27","slug":"housing-prices-growth-in-top-cities-including-mumbai-gurugram","status":"publish","type":"post","link":"https:\/\/www.homebazaar.com\/news\/housing-prices-growth-in-top-cities-including-mumbai-gurugram\/","title":{"rendered":"Housing Prices Grown By 88% In Top 10 Cities, Including Mumbai &amp; Gurugram"},"content":{"rendered":"<p><span style=\"font-weight: 400\">According to a report by Propequity which was released on Monday, the average prices of residential projects that are newly launched have escalated by a staggering 88% in India\u2019s top 10 cities, over the past 5 years.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The report examined 15,000 new launch projects across the top 10 cities in India comprising floors, apartments and villas. The cities included <a href=\"https:\/\/www.homebazaar.com\/news\/revised-guidance-value-from-october-1-in-bengaluru\/\">Bengaluru<\/a>, Chennai, Hyderabad, Mumbai, Kolkata, Navi Mumbai, Thane, Noida, Pune and Gurugram.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Gurugram has seen the most substantial property price growth. This is because the average prices are rising by <strong>160%<\/strong>. From Rs. 7,500 per sq. ft in the year 2019 it grew to Rs.19,500 per sq. ft in 2024. On the contrary Mumbai experienced the lowest property price increase at <strong>37%<\/strong> as the prices rose from Rs. 25,820 per sq. ft to 35,500 per sq. ft within the same time frame.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In terms of price growth, the cities that follow Gurugram are Noida by <strong>146%<\/strong>, Bangalore by <strong>98%<\/strong>, Hyderabad by <strong>81%<\/strong>, Chennai by <strong>80%<\/strong>, Pune by <strong>73%<\/strong>, Navi Mumbai by <strong>69%<\/strong>, Kolkata by <strong>68%<\/strong>, Thane by <strong>66%<\/strong> and finally Mumbai.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the Founder and CEO of PropEquity, all the major cities in India have seen a surge in the real estate prices. As per him, such a steep rise is due to the factors\u00a0 such as\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Massive Infrastructural Development.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Stock market gainers looking to invest and generate income through real estate.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Growing Interest from NRI\u2019s, HNI\u2019s \/ UHNI\u2019s to invest in real estate.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Rising home ownership sentiments.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Overall shift towards luxury homes as a result of rising affluence and aspirations.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Even though Mumbai has seen the lowest price increase, it still remains the most expensive city among other top 10 cities of India. The average price is Rs. 35,500 per sq. ft. This follows Gurugram with Rs.19,500 per sq. ft and Noida with Rs.16,000 per sq. ft.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a report by Propequity which was released on Monday, the average prices of residential projects that are newly launched have escalated by a staggering 88% in India\u2019s top 10 cities, over the past 5 years. The report examined 15,000 new launch projects across the top 10 cities in India comprising floors, apartments and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1376,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117],"tags":[427,576,99,64],"class_list":["post-1372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-gurugram","tag-housing-price-growth","tag-mumbai","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/comments?post=1372"}],"version-history":[{"count":0,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media\/1376"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media?parent=1372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/categories?post=1372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/tags?post=1372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}