Economy

Post DeMo, RERA, GST, property price rise is remarkable: Anarock

Anil Urs Bengaluru | Updated on December 10, 2019 Published on December 10, 2019

Anuj Puri, Chairman, Anarock Property Consultants

In a period of three years, the average property prices in the top 10 most active micro-markets has increased considerably between 6 to 11 per cent. Given the overall slowdown post the triple tsunami – DeMo, RERA, GST since 2016-end onwards, this price rise is remarkable.

According to Anuj Puri, Chairman, Anarock Property Consultants, “Bangalore’s Electronic City saw average prices increase by 11 per cent in 2019 as compared to 2016. The current average price in this locality is ₹4,365 per sq ft.”

Bangalore’s Sarjapur Road saw average property prices increase by three per cent to ₹5,844 per sq ft in 2019, from ₹5,655 per sq ft in 2016-end.

NCR’s New Gurgaon was the only market among the top 10 that saw prices decline in the three-year period – average property prices fell by six per cent.

MMR’s Panvel saw a nine per cent jump in average property prices in this period – from ₹5,680 per sq ft in 2016 to ₹6,170 per sq ft in 2019.

“New Gurgaon was close behind in the third spot with new launches touching nearly 5,400 units. Although New Gurgaon saw a generous supply, it was the only micro-market of the top 10 active residential hotspots where average property prices declined by 6 per cent between 2016 and 2019,” said Puri.

Hyderabad's Kondapur and MMR's Badlapur each saw five per cent price rise – from ₹4,353 and ₹3,588 per sq ft in 2016-end to ₹4,590 and ₹3,770 per sq ft now.

Dombivli, Sohna and Mahalunge each saw two per cent price rise during the period – from ₹6,444, ₹3,971 and ₹5,545 per sq ft to the current rate of – ₹6,597 , ₹4,065 and ₹5,657 per sq ft.

Pune's Hinjewadi saw a mere one per cent jump in prices over three years - from ₹5,718 per sq ft in 2016-end to ₹5,793 per sq ft in 2019.

Published on December 10, 2019

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