MUMBAI: The weighted average launch price of homes in India’s top 9 cities rose by 9% in FY 2024-25 to Rs 13,197 per sq. ft. as compared to Rs 12,569 per sq. ft. in FY 2023-24, according to a report by NSE-listed data analytics firm PropEquity.
In the last one year, housing prices rose the most in Kolkata by 29%, followed by Thane (17%), Bengaluru (15%), Pune (10%), Delhi-NCR (5%), Hyderabad (5%) and Chennai (4%). Housing Prices fell by 3% each in Mumbai and Navi Mumbai.
Samir Jasuja, Founder and CEO of PropEquity, said that while the demand and supply have been subdued in the past year, the rise in input cost, including land, labour and construction material, over the past couple of years have led to the firming up of housing prices.
As per PropEquity data, housing sales have dipped 23% to 1,05,791 units, while supply dipped by 34% to 80,774 in Jan-March of 2025. Except Bengaluru and Delhi-NCR, all 7 cities witnessed a decline in sales.
Jasuja added that price appreciation is now growing at a slower rate. Average housing prices grew by 12% in the top 9 cities in FY24.
However, in the last two financial years (FY23-25), housing prices have risen by 18% with Bengaluru recording the highest growth at 44%, Kolkata (29%), Chennai (25%), Thane (23%), Delhi-NCR (20%), Pune (18%), Navi Mumbai (13%), Mumbai (11%) and Hyderabad (5%).