Houses under construction see 31% rise in prices: Study – Times of India

by The Technical Blogs


MUMBAI: Prices of under-construction projects across 13 cities rose 30.6% on a year-on-year basis as more people opted for affordable under-construction properties amid rising residential prices, a study by real estate platform Magicbricks showed.
Between Jan-March, prices are estimated to have increased 7.8%, with Noida (7.1%), Greater Noida (6.1%) and Mumbai (5.7%) registering the sharpest increase during the period.Prices of under-construction projects had recorded a sequential increase of 6.3% between Oct-Dec 2023, according to the Magicbricks Propindex Report.
Separately, consumers are also looking to invest in 2BHK units. The data showed that the demand share of 2BHK units increased from 32% between Oct-Dec last year to 42% between Jan-March 2024. Demand for 2BHKs grew considerably in Bengaluru, Noida and Navi Mumbai during the time span. In Navi Mumbai, it increased to 54% from 18% while in Bengaluru, it shot up to 45% from 29%.


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