Property Prices in 13 Indian Cities See 8-Point Rise in March

India’s housing market continues to display resilience, with property prices across 13 major cities rising by eight points year-on-year in March 2025, according to the Housing Price Index (HPI) jointly released by REA India’s Housing.com and the Indian School of Business (ISB).

The index, which tracks residential price trends in Ahmedabad, Bengaluru, Chennai, Faridabad, Gandhinagar, Ghaziabad, Greater Noida, Gurugram, Hyderabad, Kolkata, Mumbai, Noida, and Pune, climbed to 132 points in March this year, up from 124 points in the same month of 2024.

While prices were higher compared to last year, the index showed no change from February 2025 and only a marginal increase from 131 points in January — indicating a phase of stability after months of sustained growth.

“The Indian housing market is now in a healthy consolidation phase,” said Praveen Sharma, CEO of REA India (Housing.com). “After a prolonged run of price escalation in major cities, we are seeing welcome stabilisation. This plateauing, driven by cautious market sentiment and supply-side adjustments, is setting the stage for more sustainable growth.”

Sharma added that the trend is likely to continue in the near term, potentially drawing more end-users back into the market. Lower interest rates, rising incomes, and lifestyle aspirations are expected to underpin long-term demand.

Echoing this view, Shekhar Tomar, Assistant Professor of Economics and Public Policy at ISB, said price stability signals a “more mature and balanced” housing market.

The report attributes the early-2025 stabilisation to a combination of global economic headwinds, measured buyer sentiment, and fewer new project launches. 

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