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Housing prices in Bengaluru up by 4% in April-June quarter: Report
Bengaluru's housing prices were at a three-year high in the second quarter, having risen four percent year-on-year, according to a report. Unsold houses were bought at the highest pace compared to seven other major cities, indicating a revival in demand.
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The square foot price of residential housing in Bengaluru increased by four per cent to ₹7,848 in the April to June quarter as compared to last year. This is much lower than the 10 per cent increase in the Delhi and national capital region but more than the one per cent rise recorded in the Mumbai Metropolitan Region (MMR) and Chennai.
A report by Credai, or the Confederation of Real Estate Developers' Associations of India, Colliers India and Liases Foras - called 'Housing Price-Tracker 2022' - analyses real estate market trends for eight major cities - Bengaluru, Delhi-NCR, MMR, Chennai, Kolkata, Hyderabad, Pune and Ahmedabad.
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Housing prices in Bengaluru returned pre-pandemic levels by rising four per cent in the second quarter, making it the highest price in three years.
Below is a table detailing the increase in housing prices in eight cities:
| City | Year-on-year increase in housing prices |
| Delhi | 10 percent |
| Ahmedabad | 9 percent |
| Hyderabad | 8 percent |
| Kolkata | 8 percent |
| Pune | 5 percent |
| Bengaluru | 4 percent |
| Chennai | 1 percent |
| Mumbai Metropolitan Region | 1 percent |
Bengaluru also saw the highest dip in unsold inventory of 21 per cent on YoY basis, signaling a revival in demand, the report said.
This compares to a 36 per cent rise in unsold inventory in Ahmedabad, which means supply is higher than demand, whereas the market in Bengaluru is moving towards a more balanced state with demand at par with supply.
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Prices rose by four per cent in the periphery and outer south region of the city, in areas including Attibele Sarjapur Village Junction, BTM Layout, Bommanahalli, Electronic city phase-2, RR Nagar - Kenchanahall, while prices grew 10 per cent in the periphery and outer east region, in areas including Hoskote Village, HSR layout sector 1, Kadugodi - Sadarmangala, Old Madras Road - Avalahalli and Whitefield Road.
