Financial Express-Housing prices in top 30 Tier II cities rise up to 65% in 1 year: PropEquity
The weighted price of new launch projects in top 30 tier II cities rose up to 65% between 2023 and October 2024 with 25 cities witnessing a rise in prices while 5 cities seeing a decline, according to a report by data analytics firm PropEquity.
Cities like Bhopal, Mohali, Sonepat, Trivandrum and Mysore saw housing price fall by up to 26%, according to the report.
Commenting on the report, Samir Jasuja, Founder & CEO, PropEquity, said, “Tier II cities have seen renewed interest from developers, corporates, financial institutions and investor community. The cheap availability of land in these cities followed by massive development of connectivity infrastructure and strong demand have led to increased supply of premium and luxury housing from not just incumbent developers but new entrants cashing in on the potential of these cities as growth centres and employment hubs driving the next phase of India growth story. Cities like Jaipur, Guntur, Gandhi Nagar and Bhubaneshwar have seen price rise between 15% and 65% in the last one year.”
