In the third quarter of 2024, housing prices across India's top eight real estate markets saw a significant year-on-year (YoY) increase of 11%, reaching an average of Rs 11,000 per square foot. The Mumbai Metropolitan Region (MMR) continues to dominate India’s residential real estate market, with prices increasing by 4% YoY during this period, according to the latest housing price tracker report published by CREDAI, Colliers, and Liases Foras.
Among the key areas in MMR, Panvel experienced the highest growth, with a 12% YoY surge in housing prices. Thane and Mumbai City followed closely, each recording an 11% rise in property prices. The steady increase in housing prices in these regions is largely attributed to the ongoing infrastructure development in the area, which has made MMR even more attractive to homebuyers and investors. With improved connectivity and the expansion of urban amenities, the MMR housing market is expected to maintain its upward trajectory, further solidifying its position as India’s most robust residential real estate market.
