Real estate prices up in key cities in Dec quarter
01 Mar 2013
2 Min Read
Editorial Team
Prices of properties in key Indian cities, including Mumbai, Delhi, Bangalore, Ahmedabad, Kolkata and Chennai, have seen a significant rise in the quarter ended December from the preceding quarter when they either remained stable or went up marginally, according to the National Housing Bank (NHB) Residex released on February 25.
Of the 20 cities covered by the Residex, prices rose in 18 during the quarter.
Mumbai and Delhi led the list with prices rising 9.6 per cent in both cities, followed by Kolkata (9.4 per cent), Patna (9.4 per cent), Kochi (8.8 per cent), Surat (8.7 per cent), Bangalore (8.2 per cent), Lucknow (8 per cent), Hyderabad (7.1 per cent), Ludhiana (6.5 per cent), Ahmedabad (6.1 per cent), Guwahati (5.1 per cent), Bhopal (4.9 per cent), Bhubneswar (2.4 per cent), Jaipur (2.4 per cent), Vijayawada (2.2 per cent), Pune (2.0 per cent) and Chennai (0.6 per cent). The two cities that saw a decline in residential prices were Faridabad and Indore.
The quarter that ended September 2012 saw residential property prices declining in 11 of 20 cities including Hyderabad, Kolkata and Bangalore, whereas Delhi and Mumbai saw an increase of 3.4 per cent and 0.5 per cent, respectively, over the preceding quarter. Constrained supply in most of the major cities, coupled with an increase in demand, may have led to the increased property prices, said RV Verma, Chairman and Managing Director of NHB.
Prices of properties in key Indian cities, including Mumbai, Delhi, Bangalore, Ahmedabad, Kolkata and Chennai, have seen a significant rise in the quarter ended December from the preceding quarter when they either remained stable or went up marginally, according to the National Housing Bank (NHB) Residex released on February 25.
Of the 20 cities covered by the Residex, prices rose in 18 during the quarter.
Mumbai and Delhi led the list with prices rising 9.6 per cent in both cities, followed by Kolkata (9.4 per cent), Patna (9.4 per cent), Kochi (8.8 per cent), Surat (8.7 per cent), Bangalore (8.2 per cent), Lucknow (8 per cent), Hyderabad (7.1 per cent), Ludhiana (6.5 per cent), Ahmedabad (6.1 per cent), Guwahati (5.1 per cent), Bhopal (4.9 per cent), Bhubneswar (2.4 per cent), Jaipur (2.4 per cent), Vijayawada (2.2 per cent), Pune (2.0 per cent) and Chennai (0.6 per cent). The two cities that saw a decline in residential prices were Faridabad and Indore.
The quarter that ended September 2012 saw residential property prices declining in 11 of 20 cities including Hyderabad, Kolkata and Bangalore, whereas Delhi and Mumbai saw an increase of 3.4 per cent and 0.5 per cent, respectively, over the preceding quarter. Constrained supply in most of the major cities, coupled with an increase in demand, may have led to the increased property prices, said RV Verma, Chairman and Managing Director of NHB.
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