Prices of under-construction projects increase 15.2% QoQ in 13 cities
The report revealed that the supply of under-construction properties increased by 11.7% QoQ, with prices rising by 15.2% during the same period. This surge has led to prices of under-construction properties surpassing those of ready-to-move properties in cities like Gurugram, Mumbai, Noida, and Thane.
Abhishek Bhadra, Head of Research at Magicbricks, noted, "The Indian real estate market is in its third year of a robust bull run. We expect the market to move towards equilibrium with a steady increase in supply and a measured pace of demand growth. Continued customer confidence in under-construction properties points to a promising outlook for residential real estate."
The report also highlighted a 4.6% QoQ growth in aggregate residential demand across the top 13 cities, with Gurugram (19.6% QoQ), Delhi (17% QoQ), and Noida (16.4% QoQ) showing the highest increases.
Published on:
25 June 2024
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