The Indian property market is witnessing huge ups and down from the past some time. But, the property prices have seen substantial growth in this period also, a report of the global property consultant says.
According to this, Ahmedabad, also known as the commercial capital of the Gujarat state and Hyderabad the capital of Telangana recorded increase in property prices and stands in the list of such top 15 international cities.
In the list of total 150 global cities, Ahmedabad stands at number five and Hyderabad secured 11th position.
Almost all major India cities have secured a place in this report. Like Bengaluru ranked 37th with a price growth of 6.6 percent, then Pune at 86th spot with a price rise of 2.9 percent. Following these cities is Mumbai by witnessing 1.9 percent growth rate while Chennai and Nagpur stands at 109th and 110th positions, respectively.
Both, Chennai and Nagpur witnessed 1 percent in this period. Other three cities including the national capital Delhi, Gujarat’s diamond city Surat and the city of joy Kolkata secured a place in this report.
However, Surat retained its place with unchanged property price rate while the other two cities climbed up the ladder with 2 percent.
Nagpur with a fast developing infrastructure managed to rank at the global list. Especially the operation commencement of the Nagpur metro with a total stretch of 13.5 km that connects Khapri to Sitaburdi plays an important role. The construction of the entire metro project is expected to be completed by 2022.
The addition of metro has given new dimensions to the real estate market of the city and also paved way for trade and industrial development while catering to the need of real estate sector.