propnewstime.com-India Real Estate: Peripheral regions outpace prime areas in residential price growth
Peripheral regions across India's major cities are witnessing exceptional residential price growth, outpacing many established prime locations over the past six years, reveals the latest ANAROCK research. For example, Bengaluru's Gunjur recorded a remarkable 69% increase, with prices increasing from INR 5,030 per sq. ft. in 2019 to INR 8,500 per sq. ft. in Q3 2024. Meanwhile, Thannisandra Main Road, a prime area, saw comparatively lower growth at 62%, rising from INR 5,175 per sq. ft. to INR 8,400 per sq. ft. during the same period.
This trend highlights the growing appeal of peripheral areas, driven by untapped price potential, enhanced connectivity, and comprehensive infrastructure development. Prime locations, having already undergone significant price appreciation in earlier years, now offer relatively limited scope for further growth. On the other hand, peripheral areas, with ample land availability, attract developers keen on launching expansive, modern residential projects. Improved infrastructure and the desire for larger, greener living spaces post-pandemic further strengthen this trend.
