Jaipur Leads Tier 2 Cities in Real Estate Price Surge with 65% Growth
The weighted average price of new launch real estate projects in India’s Tier 2 cities has risen significantly, with Jaipur recording the highest growth at 65%, according to a report by PropEquity, a data analytics firm. The analysis, covering 30 Tier 2 cities, highlighted that 26 cities experienced price increases, while four saw declines between 2023 and October 2024.
Key price trends:
Goa stood out as the only Tier 2 city where weighted average launch prices exceeded Rs 10,000 per sq. ft. Meanwhile, cities like Surat, Gandhi Nagar, and Raipur remained under Rs 5,000 per sq. ft., maintaining affordability for buyers.
PropEquity’s CEO, Samir Jasuja, attributed the rising prices to renewed interest from developers and investors, driven by affordable land, infrastructure upgrades, and strong housing demand. These factors have spurred increased launches of premium and luxury housing projects by both established developers and new entrants.
This growth reflects Tier 2 cities’ increasing appeal as real estate hubs, offering opportunities for both buyers and investors.
(Hindustan Times)
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