Average home price in top 7 Indian cities hits Rs 1.23 crore, inflation 23%

Due to a surge in disposable income and private consumption, the average price of homes sold in the top seven cities stood at Rs 1.23 crore in the first six months of this fiscal, as against Rs 1 crore in the same period of FY24, a growth of 23 per cent (year-on-year), according to a report on Wednesday.

These cities have witnessed record new launches and sales of expensive homes amid rising demand for luxury homes post the pandemic, according to data from Anarock Group. “Over 2,27,400 units worth approximately Rs 2,79,309 crore were sold across the top 7 cities between April and September 2024.

In contrast, in the same period of FY24, approx. 2,35,200 units worth Rs 2,35,800 crore were sold,” said Anuj Puri, Chairman, Anarock Group. He added that despite a three per cent decline in total unit sales, the overall sales value is 18 per cent higher than a year ago – clearly underlining the continued demand for luxury homes. Among the top seven cities – at 56 per cent – Delhi-NCR saw the highest increase in average ticket size – from around Rs 93 lakh in H1 FY2024 to over Rs 1.45 crore in H1 FY2025. Around 32,315 units worth Rs 30,154 crore were sold in the region in H1 FY2024, while around 32,120 units worth Rs 46,611 crore were sold in H1 FY2025. At 44 per cent, Bengaluru saw the second-highest jump in average ticket size among the top 7 cities – it grew from Rs 84 lakh in H1 FY2024 to Rs 1.21 crore in H1 FY 2025. Almost the same number of 31,381 units were sold in H1 FY 2025, but their total value was higher at Rs 37,863 crore, the report said. In Hyderabad, the average ticket size of units sold in H1 FY 2024 was Rs 84 lakh – this grew by 37 per cent to Rs 1.15 crore in H1 FY 2025. In H1 FY 2025, around 27,820 units worth around Rs 31,993 crore were sold.

The Mumbai Metropolitan Region (MMR) saw no change in the average ticket size during this period. 76,410 units worth Rs 1,12,356 crore were sold in H1 FY 2024, while 77,735 units worth around Rs 1,14,529 crore were sold in H1 FY 2025, the report said.