Housing Price Index At 155 Points In Hyd For Sep 2024

Hyderabad: The city witnessed significant variation in housing price index (HPI). The year 2024 started off with 156 points however, by September it stood at 155 points.

Home prices fell to the lowest HPI in February to 147 points while the highest price index was witnessed in June at 157 points. On q-o-q basis, the housing price increased by one point from 154 points in August to 155 points in September, according to the latest findings of the Housing Price Index, an indicator of price trends.

The Housing.com HPI, developed in association with the Indian School of Business’ (ISB) Srini Raju Centre for IT and the Networked Economy (SRITNE), is a tool that tracks changes in residential home prices. By offering insights into price movement, the index helps potential homebuyers assess the appropriate time to buy property, and at the same time, assist sellers in knowing the opportune time to sell assets.

The All-India HPI reached 128 in September, marking a two-point quarter-on-quarter increase, reflecting steady growth in property values across major residential hubs. NCR, with an HPI reading of 178, has outperformed its peers, primarily driven by strong end-user demand, investor interest and significant value appreciation in key micro-markets such as New Gurgaon, Noida Extension and Dwarka Expressway. Other cities that have displayed significant improvement in price growth include Bengaluru and Kolkata.

Amit Masaldan, Chief Revenue Officer, Housing.com, said: “Delhi-NCR's remarkable performance in the Housing Price Index is a testament to the region's strong fundamentals, underpinned by robust demand and strategic developments in key micro-markets. This growth aligns with India’s broader real estate trajectory, where rising property values reflect a stable and maturing market. Despite affordability challenges, end-users and investors are demonstrating confidence, driven by the promise of long-term value creation.”