ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
  • GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
  • Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
  • Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
  • Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
Read in App
Business News » India News

Prime property price in India: Looking to buy a new home? Check out Delhi, Mumbai, Bengaluru rates

Prime property is pricey world-over, but buyers are very much in the ring looking for opportunities. Shishir Baijal, Chairman & Managing Director, Knight Frank India said, “The prime property market in India has seen either a stable or marginal drop in prices in the last 5 years.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Prime property price in India: Looking to buy a new home? Check out Delhi, Mumbai, Bengaluru rates
The capital city Delhi saw the highest price increment of 4.4% in Q1 2019 in comparison with average prime property price of the year 2018. Reuters

Prime property is pricey world-over, but buyers are very much in the ring looking for opportunities. Shishir Baijal, Chairman & Managing Director, Knight Frank India said, “The prime property market in India has seen either a stable or marginal drop in prices in the last 5 years. The second half of CY2019 may see a marginal increase in property prices across all categories, including luxury. According to Attitude Survey, 14% of Indian ultra-high net-worth individuals are expected to buy a new home in 2019, an indication of latent demand for prime property in 2019.”

So, before we get to India, check out the global scene: Hong Kong is the most expensive prime residential city market in the world, with an average prime property price of US$ 4,251 per sq.ft. in 2018, according to Knight Frank’s Wealth Report. London and New York remain dominant ultra-prime markets taking second and third place in the Knight Frank rankings with average prime prices currently standing at US$3,022 and US$2,989 per sq.ft. respectively. 

Back in India, capital city Delhi saw the highest price increment of 4.4% in Q1 2019 in comparison with average prime property price of the year 2018. In Q1 2019, prime property price in Delhi was at Rs 33,507 per sq.ft. Delhi saw a drop in average prime property price by 4.9% in 2016 and by another 2.3% in 2017, but witnessed a surge in 2018 by 1.4%. 

However, Mumbai remained the most expensive prime residential city market in India, with prime property price seen at Rs 64,649 per sq.ft (US $ 931 per sq.ft.) in Q1 2019. Mumbai has seen a price increment of 0.3% when compared to average prime property price of the year 2018 approximately US$926.14 per sq.ft.(INR 64,432 per sq.ft.). Mumbai remained the most expensive prime property market with a price increase of 5.1% in the period 2014-18

Bengaluru witnessed 0.8% rise with average prime property price of 2018 atUS$277.36 per sq.ft.(INR 19,296 per sq.ft.). According to Q1 2019, prime property price of Bengaluru was seen at US$280.48 per sq.ft.(INR 19,447 per sq.ft.).

The average prime property price for the period 2014-2018: (Source: Knight Frank Wealth Report 2019)

Other key highlights:

 1. No. of Private Jet departures from Mumbai in 2018 were approximately 1,516 approximately 8.28% higher than Dubai (1,400) and approx.20% higher than Tokyo (1,202)

2. New York ranked no. 1 as it witnessed highest departure i.e. 66, 968 whereas Mumbai ranked no. 146

3. North America (13,685) has highest number of active business jets.

4. Europe, Russia and CIS (2,879) has second highest active business jets followed by Latin America (718), Asia-Pacific (487), Middle East (198) and Africa (135)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
DelhiIndia Real estateMumbaiBengaluru
Written By: ZeeBiz WebTeam
Updated: Wed, Jun 12, 2019
06:12 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
7th Pay Commission News: Delhi Transport Corporation invites application for these post – all you need to know 7th Pay Commission News: Delhi Transport Corporation invites application for these post – all you need to know
Heat Wave Alert: Severe heat in north India, temperature crosses 46 degrees Heat Wave Alert: Severe heat in north India, temperature crosses 46 degrees
Delhi Lieutenant Governor Anil Baijal resigns Delhi Lieutenant Governor Anil Baijal resigns
Delhi reports 1,083 fresh Covid cases, 1 death: Health Department Delhi reports 1,083 fresh Covid cases, 1 death: Health Department
Covid 19 DDMA Meeting: Mask made mandatory in Delhi again, Rs 500 fine for violating order; schools to remain open - Details here Covid 19 DDMA Meeting: Mask made mandatory in Delhi again, Rs 500 fine for violating order; schools to remain open - Details here

LATEST NEWS

15 more firms selected under PLI scheme for white goods

Amazon Fab Phones Fest: Up to 40% off on smartphones from Apple, Xiaomi, Samsung, Tecno and more

Apple iPhone 14 Pro to feature Always-On Display - Check expected launch date, specifications and more

Stocks to buy today: Oil India, Sterling Tools, Oberoi Realty and ONGC among list of 20 stocks for profitable trade on June 28

GST council clears proposal to remove tax exemptions on some items

India to ban single-use plastic from 1 July

Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices

Zee Business exclusive research on stocks to keep under your radar amid volatility in commodities

Energy stocks ONGC, Oil India, MRPL, Chennai Petro gain up to 10% on higher crude oil prices – Here is what brokerages say on oil & gas shares

Gold Price Today: Yellow metal opens higher on steady dollar index – check prices in metro cities

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV