Luxury housing price jumps 42% in Hyderabad, affordable housing price up 19% in NCR; know rise in your city
Among the top seven areas, Hyderabad saw the highest increase of 42% in the average price of premium homes in the five-year period. The price rose from Rs 7,450 per sq ft in 2018 to Rs 10,580 per sq ft during the first half of 2023.
Bengaluru and MMR recorded the second-highest average price hike in this segment at around 27% each. In Bengaluru, the average price of a luxury home stood at Rs 10,210 per sq ft in 2018. Since then, the average price rose to Rs 12,970 per sq ft. In MMR, the average price in the luxury segment was Rs 23,119 per sq ft in 2018. It jumped to Rs 29,260 per sq ft at the end of the first six months of 2023.
Property price hike: How much property prices have risen in your area
Average price appreciation (%) across budget categories — 2018 vs 2023City
Affordable (
Mid & Premium (Rs 40 lakh — Rs 1.5 crore)
Luxury (> Rs 1.5 crore)
NCR
19%
17%
22%
Kolkata
14%
17%
12%
MMR
15%
17%
27%
Pune
12%
15%
19%
Hyderabad
16%
23%
42%
Chennai
15%
16%
15%
Bangalore
13%
20%
27%
PAN INDIA
15%
18%
24%
Source: ANAROCK Research
Commenting on the significant hike in prices in the luxury housing segment, Anuj Puri, Chairman — ANAROCK Group, " Considering the relative price stagnation in this segment in earlier years, a 24% increase over the last five years is notable. In the pre-pandemic period in 2019, sales in this segment were anything but stellar and this reflected in non-existent or negligible price growth."
At Rs 29,260 per sq ft, Mumbai Metropolitan Region has the highest average price in the luxury residential property segment. It is followed by Chennai with an average price of Rs 15,250 per sq ft. Next in the row is the National Capital Region (NCR) where the average price
