Residential prices surge upto 90% in key metro cities in last five years: Anarock

Anarock’s report on residential price: The residential prices in Bengaluru’s Bagaluru have appreciated 90 per cent in in last five years, the highest among the other micro markets of the key metro cities, according to the latest report released by international property consultant firm Anarock. 

“With a new supply of approx. 17,065 units in the period, the average residential prices at Bengaluru jumped up from Rs 4,300 per sq. ft. in 2019 to approx. Rs 8,151 per sq. ft. in H1 2024,” says Anuj Puri, Chairman, Anarock Group. 

Other than Bangalore, Hyderabad’s Kokapet recorded an 89 per cent appreciation, Begaluru’s Whitefield recorded an 80 per cent surge, and National Capital Region’s Dwaraka Expressway prices surged 79 per cent during the same period. 

“Housing price growth accelerated after the pandemic, particularly if we consider the last two years,” says Puri. “As per our data, the top 7 cities collectively saw over 44 per cent of price appreciation in the last five years. At a city level, Hyderabad recorded the highest jump of 64 per cent between 2019 and H1 2024, followed by Bengaluru with a 57 per cent increase. The lowest price growth of 25 per cent was seen in Kolkata. NCR and MMR both witnessed a 48 per cent price appreciation each in this period.” 

The report suggested that the strong supply in the market could not curtail the price growth in these micro markets as the demand for residential properties continued to rise over the period of the last five years.

Sarjapur Road from Bengaluru, Bachupally from Hyderabad, Tellapur from Hyderabad, Panvel from Mumbai, New Gurugram from NCR and Dombivili from MMR were other key micro markets that recorded substantial gains in the last five years.