Average home price in top 7 Indian cities reaches Rs 1.23 crore, 23 pc jump
Mumbai(The Uttam Hindu): As disposable income and private consumption surge, the average price of homes sold in top seven cities was Rs 1.23 crore in the first six months this fiscal, against Rs 1 crore in the corresponding period of FY24, an increase of 23 per cent (year-on-year), according to a report on Wednesday. average home price, top 7 Indian cities, Rs 1.23 crore, 23% jump, housing market, real estate growth, property market, urban real estate, housing prices, Indian economyThere have been record new launches and sales of costlier homes across these cities amid escalating demand for luxury homes after the pandemic, as per the Anarock Group data. “Over 2,27,400 units worth approximately Rs 2,79,309 crore were sold across the top 7 cities between April and September 2024. Contrastingly, the corresponding period of FY2024 saw approx. 2,35,200 units worth Rs 2,35,800 crores sold,” said Anuj Puri, Chairman, Anarock Group.
Despite a three per cent drop in overall unit sales, the total sales value outstripped that of a year ago by 18 per cent -- clearly underscoring the unrelenting demand for luxury homes, he added. Among the top seven cities -- at 56 per cent – Delhi-NCR saw the highest average ticket size growth – from around Rs 93 lakh in H1 FY2024 to over Rs 1.45 crore in H1 FY2025. About 32,315 units worth Rs 30,154 crores were sold in the region in H1 FY2024, while around 32,120 units worth Rs 46,611 crores were sold in H1 FY2025. The value of sold inventory increased by 55 per cent in this period, the total number of units sold declined by 1 per cent.
At 44 per cent, Bengaluru witnessed the second-highest jump in average ticket size among the top 7 cities - it rose from Rs 84 lakh in H1 FY2024 to Rs 1.21 crore in H1 FY 2025. H1 FY 2025 saw nearly same number of units 31,381 sold, but their total value was higher at Rs 37,863 crore, the report said In Hyderabad, H1 FY 2024 saw the average ticket size of sold units at Rs 84 lakh - this increased by 37 per cent to Rs 1.15 crore in H1 FY 2025. In H1 FY 2025, about 27,820 units worth near Rs 31,993 crore were sold. The Mumbai Metropolitan Region (MMR) saw no change in average ticket size in this period. In H1 FY 2024, the average ticket size of sold units was Rs 1.47 crore. The region saw approx. 76,410 units worth Rs 1,12,356 crore. sold in H1 FY 2024, while H1 FY 2025 saw about 77,735 units worth about Rs 1,14,529 crore sold, said the report.
