Prices of under-construction properties rose by 15.2% QoQ across top 13 cities in the June quarter. The supply of such properties which also increased by 11.7% QoQ helped the overall market for residential supply which witnessed the fastest growth rate in the last 24 months through the quarter, said a report.
This surge has resulted in prices of under-construction properties surpassing those of ready to move properties in several cities such as Gurugram, Mumbai, Noida and Thane, according to a Magicbricks Propindex report. The continued customer confidence in under-construction properties is seen as an indication of a promising outlook in the long run. On the demand front, top cities continued to grow, recording an aggregate increase of 4.6% QoQ during the June quarter. Gurugram, Delhi, and Noida, home to several corporate employees, registered the highest increases with a QoQ growth of 19.6%, 17%, and 16.4%, respectively.
