Average prices of new housing projects increase 9% YoY across top 9 cities in FY25: PropEquity

The weighted average launch price of homes in India’s top 9 cities rose by 9% in FY 2024-25 to ₹13,197 per sq. ft. as compared to ₹12,569 per sq. ft. in FY 2023-24, said a report by NSE-listed data analytics firm PropEquity.

The top 9 cities are Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Navi Mumbai, Thane and Pune.

In the last one year, housing prices rose the most in Kolkata by 29%, followed by Thane (17%), Bengaluru (15%), Pune (10%), Delhi-NCR (5%), Hyderabad (5%) and Chennai (4%).

Housing Prices fell by 3% each in Mumbai and Navi Mumbai.

However, in the last two financial years (FY23-25), housing prices have risen by 18% with Bengaluru recording the highest growth at 44%, Kolkata (29%), Chennai (25%), Thane (23%), Delhi-NCR (20%), Pune (18%), Navi Mumbai (13%), Mumbai (11%) and Hyderabad (5%), it said.

According to PropEquity report, housing sales have dipped 23% to 1,05,791 units while supply dipped by 34% to 80,774 in Jan-March of 2025.

Average housing prices across nine cities

As per the data, the weighted average housing prices in new projects increased in Bengaluru to ₹9,852 in 2024-25 fiscal year from ₹8,577 per square feet in the preceding year.

In Kolkata, the average rate rose to ₹8,009 from ₹6,201 per square feet, the report noted.

Rates increased in Chennai to ₹7,989 from ₹7,645 per square feet.

Hyderabad witnessed an increase to ₹8,306 from ₹7,890 per square feet, while Pune saw a rise to ₹10,832 from ₹9,877 per square feet. In Thane, the average rates rose to ₹12,880 from ₹11,030 per square feet. Average housing prices in Delhi NCR increased to ₹14,020 from ₹13,396 per sq ft.

However, rates dipped in Navi Mumbai to ₹12,855 from ₹13,286 per sq ft. Mumbai too saw a fall to ₹34,026 per sq ft last fiscal from ₹35,215 per sq ft in 2023-24.

Also Read: Delhi-NCR housing prices see 31% growth; Overall 10% increase across eight cities in Oct-Dec: Report

“Housing prices have appreciated between 10-30% in Bengaluru, Kolkata, Pune and Thane. While the demand and supply have been subdued in the past one year, the rise in input cost, including land, labour and construction material, over the past couple of years have led to firming up of housing prices. The price appreciation has been growing at a slower rate, though. Average housing prices grew by 12% in the top 9 cities FY24,” said Samir Jasuja, Founder and CEO, PropEquity.