Summary:

PropEquity reports that housing prices in India’s top 30 Tier II cities have surged by up to 94% over the last four years, driven by increased demand. The study compares FY24 launch prices with those from 2019-20.

Among the 30 cities analyzed, 24 experienced double-digit price growth, with the top ten cities seeing increases between 54% and 94%. For example, prices in Agra rose by 94% to $85.68 per square foot, while Goa saw a 90% increase, Ludhiana 89%, and Indore 72%.

PropEquity CEO Samir Jasuja attributes this price surge to high demand surpassing new project launches over the past five years. Key factors include rising consumer confidence, economic growth, improved connectivity, infrastructure, and robust job markets, particularly in cities like Bahadurgarh.

Source: IBEF 

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