Property Prices Surge Most in This Indian City: Not Mumbai, Delhi, or Kolkata
Family Land Sold for Marriage in 2006,Now Daughter Wants Her Cut, Internet Divided
Bengaluru has recorded the sharpest rise in housing prices among major Indian cities over the past five years, with rates jumping a staggering 79 per cent, according to a new report by 1 Finance. Surpassing metros like Mumbai, Delhi-NCR, Chennai, and Kolkata, the Karnataka capital has emerged as the fastest-growing housing market in India.
The report reveals that Bengaluru and Delhi-NCR are the only two major cities where unsold housing stock has declined in the last five years—signifying strong buyer demand and consistent home sales despite the rising property rates.
Tech Hub Drives Real Estate Boom
Bengaluru’s position as India’s top IT and startup hub, hosting offices of major global tech giants and over 10 lakh highly paid tech professionals, is fueling this real estate surge. High disposable incomes, steady employment growth, and increasing migration to the city are all contributing to this unprecedented boom in housing demand.
Current Home Prices in Bengaluru
According to the report, the average property price in Bengaluru now stands at approximately Rs 10,349 per square foot. This impressive growth in property values has placed the city ahead of other metros in terms of appreciation.
How Other Cities Compare
While Kolkata saw the next highest price jump after Mumbai at 61 per cent, cities like Hyderabad and Pune also witnessed substantial price growth—43 per cent and 45 per cent respectively. However, Hyderabad recorded a 177 per cent increase in unsold inventory, raising concerns about oversupply.
Meanwhile, Mumbai, though seeing a relatively moderate 42 per cent price hike, remains India’s most expensive real estate market. The average property price in Mumbai now stands at Rs 26,975 per square foot, followed by Delhi-NCR at Rs 23,378 per square foot.
