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      Bengaluru housing prices rose by 4% in the April-June quarter: Survey

      • 5 min read
      • Last Modified Date: February 2, 2023
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      Per a survey, Bengaluru’s home costs reached a three-year high in the second quarter, up four percent year on year. Unsold properties were purchased at the fastest rate among seven other big cities, showing a rebound in demand.

      The square foot price of residential housing in Bengaluru climbed by 4% year on year to 7,848 in the April to June quarter. This is less than the 10% growth in Delhi and the national capital area, but greater than the 1% increase in Chennai and the Mumbai Metropolitan Region (MMR).

      The research titled ‘Housing Price-Tracker 2022′ by Credai, or the Confederation of Real Estate Developers’ Associations of India, Colliers India, and Liaise Foras examines real estate market trends in eight key cities: Bengaluru, Delhi-NCR, MMR, Chennai, Kolkata, Hyderabad, Pune, and Ahmedabad.

      Housing prices in Bengaluru recovered to pre-pandemic levels in the second quarter, climbing 4%, the most in three years. Do not miss Mumbai, Bengaluru, and Hyderabad: Cities leading India’s residential real estate recovery in 2022.

      The table below shows the growth in home prices in eight cities:

      City

      The year-on-year increase in housing prices

      Delhi

      10 percent

      Ahmedabad

      9 percent

      Hyderabad

      8 percent

      Kolkata

      8 percent

      Pune

      5 percent

      Bengaluru

      4 percent

      Chennai

      1 percent

      Mumbai Metropolitan Region

      1 percent

      Source: The Hindustan Times

      According to the research, Bengaluru also saw the biggest YoY drop in unsold inventory, at 21%, indicating a resurgence in demand.

      This contrasts with a 36% increase in unsold inventory in Ahmedabad, indicating that supply is more than demand, but the market in Bengaluru is approaching a more balanced condition, with demand equal to supply.

      Prices increased by 4% in the city’s periphery and outer south region, including Attibele Sarjapur Village Junction, BTM Layout, Bommanahalli, Electronic city phase-2, RR Nagar – Kenchanahall, while prices increased by 10% in the city’s periphery and outer east region, including Hoskote Village, HSR layout sector 1, Kadugodi – Sadarmangala, Old Madras Road – Avalahalli and Whitefield Road.

      Assetmonk is a premier real estate marketplace that offers 14-21% IRR investment options in key Indian cities such as Bangalore, Chennai, and Hyderabad. Assetmonk provides high-quality investment options after doing expert due diligence. Come see us and invest with us!

      Bengaluru housing prices rose by 4% in the April-June quarter: Survey FAQs

      According to a Reuters poll, real estate prices in India will rise by at least 7.5% in 2022, and by 6% in 2023 and 2024.

      Some of the best areas to invest in Bangalore real estate are Whitefield, Banashankari, HSR Layout, and Electronic City.

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