“Magicbricks Report: Gurugram 31% YoY in Property Prices, Greater Noida, Noida, and Hyderabad Witness Significant YoY Appreciation

Greater Noida (31 percent YoY), Noida (26.1 percent YoY), and Hyderabad (15.8 percent YoY) following employment hubs of Gurugram witnessed highest 32.1 percent YoY appreciation in property price.

Around 13 major cities in India faces a rapid hike in property prices of 18.8 percent year-on-year (YoY) and 3.97 percent quarter-on-quarter (QoQ) in October-December 2023.

Abhishek Bhadra, head of research, Magicbricks said that 2023 has been an important period for real estate sector in India. According to Magicbricks PropIndex report the cities which include Mumbai, Navi Mumbai, Delhi, Noida, Greater Noida, Gurugram, Hyderabad, Bengaluru, Chennai, Kolkata, Pune, Ahmedabad and Thane observing highest increase during this period. The report said that the demand is increasing YoY by 2 percent but due to increasing prices it is decreased 16.9 percent QoQ.

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The following Gurugram saw an overall 32.1 percent YoY rise in the property price among employment hubs: Greater Noida (31 percent YoY), Noida (26.1 percent YoY), and Hyderabad (15.8 percent YoY).

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