'Housing prices in 16 cities rise up to 10.5%'
Aug 13, 2012
Source : The Financial Express

 

New Delhi: Housing prices have risen by up to 10.5 per cent in 16 major cities of the country in the April-June period, while only three towns have witnessed a marginal fall, according to National Housing Bank (NHB) data.
 
NHB 'RESIDEX' tracks the movement in prices of residential properties on a quarterly basis since 2007. The NHB RESIDEX now covers 20 cities.
 
"Residential housing prices in 16 cities have shown rise in prices in this quarter ended June, 2012 over the previous quarter ended March, 2012," NHB said in a statement. 
 
The maximum increase in housing prices was observed in Pune (10.5 per cent) followed by Bengaluru (8.7 per cent), Patna (8.6 per cent), Ahmedabad (6.4 per cent) and Ludhiana (5.3 per cent).
 
Housing prices rose by 4.1 per cent in Lucknow, while homes became costlier in Mumbai by 3.7 per cent, Delhi and Kolkatta by 2.6 per cent each, Bhubaneshwar, Bhopal and Chennai by 1.7per cent each, Surat and Guwahati 1.2 per cent each, and Vijaywada and Kochi by 1.1 per cent each.
 
However, housing prices declined in Jaipur by 2.6 per cent, Indore by 2.4 per cent and Hyderabad by one per cent, NHB said, adding that prices in Faridabad remained stable.
 
When contacted, NHB Chairman and Managing Director R V Verma told PTI that "housing prices are largely stable and there is no cause of worry. In the long run also, the prices are moving in a range bound".
 
Verma said the prices have increased marginally in the 16 cities, which he attributed to local factors like improvement in infrastructure. 

Latest Realty News

Relax building rules to make best land use, says Assocham
Aug 13, 2012
New Delhi: As the country has limited land resource, city building rules should be liberalised to allow maximum covered areas in construction of houses and commercial buildings, Assocham President Rajkumar N Dhoot said today. "Recommendations of the Ashok Chawla Committee on Natural Resources (in this regard) the Floor Area Ratio (FAR) should be implemented," the Assocham chief said in a state
Sahara India to pump Rs 3,000 crore in its retail venture
Aug 13, 2012
NEW DELHI: Sahara India today announced Rs 3,000 crore investment for its retail venture, while setting an ambitious revenue target of around Rs 50,000 crore after two years. The group claimed that it will open around 1,000 retail outlets under the 'Sahara Q Shop' brand initially in five states covering 60 cities and towns by 2013. The initiative will kick off from August 15. "The company h
DLF on track to cut debt after Mumbai land sale
Aug 13, 2012
MUMBAI: DLF, India's biggest property developer, is closer to meeting its debt reduction target after it agreed to sell its plot of land in Mumbai for 27 billion rupees ($488 million) to Lodha Developers on Monday. Like other developers, DLF gorged on cheap finance during the 2007-08 property boom in Asia's third-largest economy to fund ambitious expansion plans for millions of square feet of
Maharashtra may revisit redevelopment of textile mill land
Aug 11, 2012
The Maharashtra government may reconsider the redevelopment of land by private textile mills in Mumbai. The state urban development is expected to prepare a status report on this soon. The move is triggered by a Supreme Court judgment, directing Bombay Dyeing Mills to hand over a third of its land each to the Brihanmumbai Municipal Corporation (BMC) and the Maharashtra Housing and Area Develop
Kotak Realty set to invest R400-500 cr in housing projects
Aug 11, 2012
Mumbai: Kotak Realty Fund, part of the Kotak Mahindra Group, plans to invest between R400 crore and R500 crore in three to four residential projects in the current financial year. The fund is looking at housing projects in Bangalore, Delhi and the National Capital Region (NCR), and Mumbai for probable investment opportunities. The investment size will be close to R100 crore in each project, V
Rourkela bus terminus cries for attention
Aug 10, 2012
The Rourkela bus terminus is in a deplorable condition. Protesting the state-of-affairs, the members of Sundargarh Motor Karmachari Sangh (SMKS) and the Rourkela Mini-bus Owners’ Association (RMOA) on Thursday accused the Rourkela Development Authority (RDA) of being indifferent towards the condition of the bus terminus. Concrete ceilings of the main building have peeled off at many places the
DDA housing: Paid for flats, allotted ..
Aug 10, 2012
New Delhi: DDA housing scheme 2010: D-6, Vasant Kunj was to be the hospitality address for visitors and tourists to the city during the 2010 Commonwealth Games. The showcase flats, constructed by Delhi Development Authority (DDA), were to be auctioned later as part of the agency’s mega housing scheme. The project, quite evidently, missed its 2010 deadline as the city government made alternati
Satellite cities to grow with Metro-III
Aug 10, 2012
New Delhi: The elevated stretch of the Metro extension connecting Delhi outskirts to Bahadurgarh in Haryana, will pave the way for the much-sought-after development in the area, said officials. The 11.1-km Metro line will traverse the largely uninhabited locations of the two states and will help connect the various cities in the NCR. For the first time, the Delhi Metro Rail Corporation (DMRC)
Draft development plan for Manesar urban complex approved
Aug 10, 2012
Gurgaon: The District Planning Committee and District Level Committee on Thursday approved the draft development plan of Gurgaon-Manesar Urban Complex-2031. The committees, which met under Deputy Commissioner P C Meena, approved a plan to accommodate a projected population of 41.65 lakh. Under the plan, a total of 32,408 hectares of land has been proposed for urbanisation, of which 15, 82
NRI real estate investment norms simplified
Aug 08, 2012
The purchase and sale of immovable properties in India by a Non Resident Indian (NRI) or by a Person of Indian Origin (PIO) is really a very simple and easy affair with not much hassles and problems. For a detailed and authentic answer one should always refer to the Foreign Exchange Management (Acquisition and Transfer of Immovable Properties in India) Regulations, 2000 as amended from time to ti

Latest Realty News Of State

Realty Talk's