Pune’s Hinjawadi Sees 39% Rise in House Prices Amid Nationwide Surge
Pune, 30th August 2024: Demand for houses across the country has steadily risen, leading to a significant increase in housing prices. Over the past five years, prices in major metropolitan areas have surged by approximately 45%. In Mumbai’s Dombivli and Panvel, prices have increased by 50% and 40%, respectively, while Pune’s Hinjawadi has seen a 39% rise.
Anarock Group’s recent report on the property sector highlights this trend across seven major cities: Delhi, Mumbai, Pune, Kolkata, Bangalore, Hyderabad, and Chennai. According to the report, house prices in these cities have risen by 45% in the first half of this year compared to 2019. Bengaluru has experienced the highest growth, with prices increasing by 90%, from Rs 4,300 per sq ft to Rs 8,151 per sq ft over the past five years.
In Hyderabad’s Kokapet area, prices have jumped 89%, from Rs 4,750 to Rs 9,000 per sq ft. Delhi’s Dwarka Expressway has seen a 79% increase in prices during the same period. The report also notes a 58% rise in Bangalore’s Sarjapur Road, 57% in Hyderabad’s Bachupally and Tellapur, 53% in Mumbai’s Panvel, 48% in New Gurugram, and 40% in Mumbai’s Dombivli.
Anuj Puri, Chairman of Anarock Group, attributed the surge in house prices to the post-coronavirus period. He noted that Hyderabad has seen the highest increase at 64% over the past five years, followed by Bangalore at 57%, Delhi and Mumbai at 48%, with Kolkata experiencing the lowest increase at 25%.
