Real Estate Property Prices In Tire-2 Cities Surge By 10 To 15 Pc Y0Y; Bhopal, Nagpur And 6 Other Cities Driving The Growth

??Online property searches in the INR 1-2 crore segment have surged by 61 per cent, while the above INR 2 crore bracket has witnessed a remarkable growth of 121 per cent.
Real Estate, Property Prices, Tire-2 cities, Bhopal, Nagpur, Real Estate

Real Estate Property Prices In Tire-2 Cities Surge By 10 To 15 Pc Y0Y; Bhopal, Nagpur And 6 Other Cities Driving The Growth (Image source: Times Now Digotal)

Real estate property prices in Tire-2 cities are increasing by 10 per cent to 15 per cent year-on-year and closing the gap between the Top 8 cities of India, as per a report by prop tech firm Housing.com.
Acooring to the report cities like Bhopal, Nashik, and Vadodara feature more affordable real estate markets, with average capital values ranging from Rs 3,000 to 5,000 per square foot. markes them attractive for budget-conscious buyers and investors.
Chandigarh, North Goa, and its neighbouring regions such as Mohali and Zirakpur represent the higher end, with prices soaring up to Rs 10,000-12,000 per square foot. These areas are experiencing substantial demand, possibly due to better infrastructure, higher quality of life, and growing economic opportunities.
Cities like Coimbatore and Kochi sit in the mid-range, with average values between Rs 5,500-7,500 and INR 6,000-8,000 per square foot, respectively. This mid-range pricing is indicative of a balanced real estate market, offering a blend of affordability and growth potential.
Jaipur, Lucknow, and Nagpur showcase moderate capital values, with ranges generally between INR 4,000-7,000 per square foot. These cities are emerging as important regional hubs, driven by improving infrastructure and increasing investor interest.
Online property searches in the INR 1-2 crore segment have surged by 61 per cent, while the above INR 2 crore bracket has witnessed a remarkable growth of 121 per cent, as per the report.
What Driving Tier-2 City Real Estate Growth?
"Several factors are propelling the rapid growth of Tier-2 cities. Economic diversification, infrastructure development, and reverse migration, spurred by the pandemic, have become significant catalysts," said Dhruv Agarwala, Group CEO of Housing.com.
The "The Bharat in India" report by Housing.com sheds light on the burgeoning real estate markets in Tier-2 cities across India. This report analysis shifts in the dynamics of the real estate sector, with emerging urban centres swiftly bridging the gap with Tier-1 cities.
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