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Economy and Finance

Which are the costliest property markets in India?

02 Jan 2024 Zinkpot 279
  1. India's property market is experiencing a strong demand cycle, driven by factors such as increasing urbanization, a growing population, and government initiatives to protect property rights.
    Some of the top cities in India for real estate investment include:
  2. MUMBAI: Mumbai is also known as India’s financial capital, where thriving commercial and residential real estate markets contribute to the higher cost of living. Amid the glamour and opportunities, the price of living in Mumbai is higher than in other Indian cities. Average property prices in some of the most posh areas of Mumbai are:
    • Tardeo: INR 46,762 per sq ft
    • Bandra West: INR 46,662 per sq ft
    • Worli: INR 45,594 per sq ft
    • Juhu: INR 45,014 per sq ft
    • Cuffe Parade: INR 45,000-69,000 per sq ft
    • Malabar Hill: INR 42,000-69,000 per sq ft
  3. HYDERABAD: In the dynamic landscape of India’s real estate market, Hyderabad has stealthily climbed the ranks to secure this position as the second most expensive property destination in the country. Average property prices in some of the most posh areas of Hyderabad are: 
    • Jubilee Hills: INR 21,348 per sq ft
    • Banjara Hills: INR 15,270 per sq ft
    • HITEC City: INR 12,247 per sq ft
    • Kothaguda: INR 8,794 per sq ft
    • Kondapur: INR 7,931 per sq ft
    • Manikonda: INR 7,068 per sq ft
  4. AHMEDABAD: Ahmedabad, known as the “Tokyo of Gujarat,” is a rapidly developing city with a blooming IT, education, and industrial sector. As it evolves into a global hub, the cost of living rises. Here are some of the posh areas of Ahmedabad: 
    • Thaltej: INR 7,500-12,300 per sq ft
    • Satellite City: INR 6,800-10,700 per sq ft
    • SG Highway: INR 644 -76,285 per sq ft
    • Science City Road: INR 5,179 per sq ft
    • Jagatpur: INR 3,900-5,500 per sq ft
  5. NEW DELHI: Delhi, the capital and a massive metropolitan area, offers a diverse lifestyle. Although the cost of living here is slightly higher, the city compensates with its varied offerings and attractions. Here is a list of the top posh areas in Delhi: 
    • Prithviraj Road: INR 38,095-3,00,000 per sq ft
    • Jor Bagh: INR 4,444-68,571
    • Defence Colony: INR 22,600-35,300 per sq ft
    • Model Town: INR 9,300-15,500 per sq ft
    • New Friends Colony: INR 2,282-50,401 per sq ft
    • Panchsheel Park: INR 13,129-56,603 per sq ft
    • Nizamuddin West: INR 26,666-54,167 per sq ft
  6. PUNE: Pune, an industrial and educational hub, ranks fourth among the most expensive cities in India. While it offers a rich cultural experience, residents may find that food prices are comparatively higher than in other metros. Average real estate prices of posh areas in Pune are:
    • Kothrud: INR 11,590 per sq ft
    • Erandwane: INR 13,680 per sq ft
    • New Kalyani Nagar: INR 12,300 per sq ft
    • Shivaji Nagar: INR 15,250 per sq ft
    • Koregaon Park: INR 13,560 per sq ft
    • Boat Club Road: INR 14,120 per sq ft
  7. BENGALURU: It is famous for its thriving high-tech industry and large population with relatively higher incomes. While the cost of living is high, the city’s opportunities attract many professionals seeking a better lifestyle. Average prices of top posh areas in Bengaluru:
    • Basavanagudi: INR 12,654 per sq ft
    • Indiranagar: INR 14,843 per sq ft
    • Jayanagar: INR 11,953 per sq ft
    • Koramangala: INR 13,197 per sq ft
    • Malleshwaram: INR 11,758 per sq ft
    • Rajaji Nagar: INR 15,757 per sq ft
  8. These cities offer a variety of investment options in residential, commercial, and industrial properties, providing investors with the flexibility to choose the type of property that best suits their needs and investment goals.
     

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