Bhopal's Rising Real Estate: A 38% Value Surge in Housing

Housing sales in Bhopal increased by 10% in units and surged by 38% in value. The rise in input costs and the launch of premium projects contributed to this growth. PropEquity reported a 4% rise in sales across 15 tier-II cities, underlining the real estate market's strength.

In a significant development, housing sales in Bhopal have shown a remarkable 10% rise, reaching 3,565 units over the past year. In value, there was an exceptional growth of 38%, amounting to Rs 2,344 crore, reports PropEquity.

The data analytics firm highlighted that a part of the surge is due to increased input costs, driven by the rising prices of land, labor, and construction materials. Additionally, a spurt in premium and luxury housing projects has further elevated the sales figures.

Expanding this observation, PropEquity's study across 15 major tier-II cities exhibited a 4% growth in housing sales, signaling a robust real estate market by soaring to 1,78,771 units compared to previous years.

(With inputs from agencies.)