Housing Prices: Guwahati Is 4th Fastest Growing City Across India
Guwahati has shown one of the highest growths for housing prices since 2017, surpassing major cities such as Bengaluru, Mumbai & New Delhi. Composite Carpet Area Price as per assessment prices was reported at ₹5,976.00/sq ft in Sep 2022.
The composite price as per carpet area data for Guwahati reached an all-time high of ₹ 5,976.00/sq ft in Sep 2022 and from ₹ 3,778.00/sq ft in Jun 2018, as reported by NHB Residex. NHB RESIDEX, India’s first official housing price index, was an initiative of the National Housing Bank (NHB), undertaken at the behest of the Government of India, Ministry of Finance.
The Assessment Prices as per the RESIDEX’s Housing Price Index for Guwahati went up from 100 to 158 between 2017-18 and Sep 2022 i.e. an increase in prices of around 58% during this period. Whereas, Delhi remained stable at 100, Bengaluru and Mumbai noted slight increase at 129 & 109.
Only Gandhinagar, Ahmedabad and Hyderabad registered higher price growth than Guwahati as per assessment prices during this period. While Guwahati’s Price rose over 58% between June 2018 & September 2022, Gandhinagar and Ahmedabad recorded a whopping 86% & 83% price rise in this period followed by Hyderabad at 69%.
In terms of absolute prices as on Sep 2022, Guwahati managed to topple some well-established regions of Kolkata including areas such as Howrah and Bidhan Nagar.
Such news only further establish Guwahati as one of the hottest property markets across India, which has been boosted in recent times majorly due to policy reforms & trade growth.
