Housing prices rise in 18 cities by up to 3.9 pc
Maximum price increase was witnessed in Pune
Nov 01, 2014
Source : Business Standard
National housing Bank


New Delhi: Housing prices appreciated in 18 major cities by up to 3.9 per cent in April-June over the preceding quarter while property rates fell in six cities including Delhi, according to National Housing Bank (NHB). 

In the national capital, housing prices dropped by 3 per cent during the first quarter of this fiscal compared with the January-March 2014. 

Maximum price increase was witnessed in Punby 3.9 per cent, while Chandigarh saw highest fall of 4.4 per cent, according to NHB's 'RESIDEX'. 

NHB had launched housing index 'RESIDEX' in July 2007 to track the movement of housing prices on a quarterly basis. It currently covers 26 cities. Prices in two cities -- Hyderabad and Raipur -- remained stagnant. 

"The movement in prices of residential properties for the quarter April-June, 2014 has shown marginal increasing trend in 18 cities ranging from 0.5 per cent in Bhubaneswar to 3.9 per cent in Pune, and fall in 6 cities ranging from -0.5 per cent in Lucknow to -4.4 per cent in Chandigarh in comparison to the previous quarter January-March, 2014," NHB said in a statement. 

The appreciation in property prices in majority of cities tracked by NHB comes at a time when the domestic real estate sector is reeling under a lingering slowdown for last 2-3 years. 

Maximum increase was observed in Pune (3.9 per cent) followed by Coimbatore (3.5 per cent), Indore (3.3 per cent), Guwahati (3.2 per cent), Patna (2.7 per cent) and Kolkata (2.4 per cent). 

Housing prices appreciated in Ahmedabad by 1.91 per cent, Vijayawada (1.88 per cent), Mumbai (1.75 per cent), Chennai (1.72 per cent), Ludhiana (1.4 per cent), Bhopal (1.3 per cent), Kochi (1.2 per cent), Jaipur (0.99 per cent), Faridabad (0.96 per cent), Bengaluru (0.93 per cent), Nagpur (0.6 per cent) and Bhubaneswar (0.5 per cent). 

"Six cities have shown decline in prices over the previous quarter with maximum fall observed in Chandigarh (-4.4 per cent) followed by Meerut (-3.6 per cent), (-3 per cent), Surat (-2.4 per cent), Dehradun (-2.1 per cent) and Lucknow (-0.5 per cent)," NHB said. 

The Residex for the quarter April-June, 2014 has taken into account the price trends for residential properties in different locations and zones in each city and is based upon the transaction data received from Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI). 

The data based on actual transactions are put through a model that depicts the trend in the market, NHB said.

Latest Realty News

Land of 3 Ponzi companies seized
Nov 01, 2014
BHUBANESWAR: Khurda district administration confiscated properties of four Ponzi firms in Khurda and Tangi tehsils
FIR against realty firm for cancelling flat booking
Nov 01, 2014
NOIDA: An FIR has been filed against a real estate company for allegedly cancelling a flat booked by a lawyer in Sector 119
Realty firm's boss held for 1,000cr fraud
Nov 01, 2014
NEW DELHI: The managing director of Vigneshwara real estate group has been arrested by the economic offences wing (EOW) of the Delhi Police
Housing scheme launched
Nov 01, 2014
Guwahati: Assam chief minister Tarun Gogoi today launched a scheme for constructing 50,000 houses under Indira Awas Yojana
DDA housing draw delayed, to be held on Nov 10
Nov 01, 2014
New Delhi: The draw of lots for the Delhi Development Authority’s (DDA) housing scheme 2014 will now be held on November 10
Finish existing projects before starting new ones, builders told
Oct 31, 2014
NOIDA: Real estate body Credai on Thursday said it has urged builders in NCR to not launch new projects before completing existing ones
Land pooling is against SC ruling: CPM
Oct 31, 2014
GUNTUR: Coming down heavily on the State government, CPM affiliated raithu sangham has said that the entire process of land pooling is against the Supreme Court (SC) directives and norms of Land acquisition Act
DDA told to seal revised master plan
Oct 31, 2014
NEW DELHI: The urban development ministry on Thursday directed Delhi Development Authority (DDA) to finalise the revised Delhi Master Plan
Bhubaneswar Development Authority City Centre future tense
Oct 31, 2014
BHUBANESWAR: The Bhubaneswar Development Authority (BDA) has recommended the general administration (GA) department to take back a vast patch of land, where BDA City Centre (earlier Nicco Park), is running
Enforcement directorate plans to attach Seashore property
Oct 31, 2014
BHUBANESWAR: The enforcement directorate (ED) is planning to re-attach the Seashore Group's properties, which were earlier seized by the Crime Branch

Latest Realty News Of State

Realty Talk's