Property News: Reports Claim Massive Surge in India’s Luxury Housing
Luxury Housing India: Since Corona helped people appreciate the value of owning a property, there has been a lot of development in India’s real estate market, and a major part of the increased demand appears to be moving towards luxury houses in the nation. The country’s increasing real estate market and luxury housing were emphasised in the ANAROCK Property Consultancy report on Real Estate in India, along with plausible explanations for the abrupt change in luxury housing.
Increase in Housing Prices in These Cities
According to a recent survey by real estate agency ANAROCK, the price of luxury properties has climbed by 24% in seven major Indian cities. The price of a property has climbed from around Rs 12,400 per square foot in 2018 to Rs 15,350 per square foot in 2023. Hyderabad, Delhi-NCR, Bengaluru, Chennai, Mumbai Metropolitan Region, Kolkata, and Pune are among these cities. Prices in the affordable sector (under Rs 40 lakh) increased by 15% throughout the country with Delhi witnessing the largest increase of 19 percent.
