Avg housing prices up in 23 major tier II cities; rates fall in 5 small towns: PropEquity
real estate data analytic firm PropEquity, Jaipur saw the maximum 65 per cent rise in weighted average prices to Rs 6,979 per square feet in the housing projects launched during January-September this year. In the last calendar year, the average rates in Jaipur stood at Rs 4,240 per square feet.
Samir Jasuja, Founder & CEO of PropEquity said, "Tier II cities have seen renewed interest from developers, corporates, financial institutions and investor community."
The cheap availability of land in these cities followed by the massive development of connectivity infrastructure and strong demand has led to an increased supply of premium and luxury housing, he added.
As per the data of north India, Agra saw an increase of 59 per cent in prices, followed by Chandigarh 34 per cent, Bhiwadi 25 per cent, Indore 20 per cent, Dehradun 14 per cent, Ludhiana 11 per cent and Lucknow 1 per cent.
However, Bhopal saw a decline of 5 per cent while Mohali and Sonepat witnessed a fall of 8 per cent and 26 per cent, respectively.
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