Geetanjali Homestate Report Reveals Surge in Property Prices Indian Market

Geetanjali Homestate, a leading real estate consultancy, has released its latest industry report detailing property pricing trends across key markets in India for the second quarter of 2024. The report provides an in-depth analysis of average property prices in major metropolitan areas, revealing notable growth trends.

In Mumbai, average property prices showed significant growth. For April to June 2024, prices ranged from ₹21,900 to ₹22,200 per square foot, up from ₹20,200 to ₹20,500 in the first quarter of 2024. Compared to the same period last year (₹20,900 to ₹21,200), this marks a quarter-on-quarter growth of 8.2% and a year-on-year growth of 4.9%.

Delhi also experienced a positive trend, with average prices from April to June 2024 between ₹11,480 and ₹11,780 per square foot, compared to ₹10,950 to ₹11,300 in the previous quarter. This represents a year-on-year growth of 11.2%, up from ₹10,300 to ₹10,600 in the same period of 2023, and a quarter-on-quarter growth of 4.2%.

Bangalore saw the most remarkable increase, with average prices rising to ₹9,500 to ₹9,800 per square foot in the second quarter of 2024, from ₹8,200 to ₹8,500 in the first quarter. This represents a year-on-year growth of 21% from ₹7,800 to ₹8,100 in 2023, and a substantial quarter-on-quarter growth of 15.2%.