Property prices likely to remain stable for next 6 mths: Survey
The Indian real estate consumer is still in the wait and watch mode
Oct 30, 2014
Source : Zeenews
Real Estate


Mumbai: Even as the overall sentiment in the real estate sector has improved, buyers feel property prices across top 10 cities are likely to remain stable for the next six months, according to a recent survey.

The Housing Sentiment Index (HSI) assessed by IIM Bangalore and real estate portal Magicbricks home buyers across 10 cities -- Ahmedabad, Bangalore, Chennai, Delhi, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida and Pune -- suggests that real estate prices are likely to remain stable over the next six months.

The aggregate HSI measured across the cities dropped marginally by four percent during July-September quarter to 114 compared to April-June period, indicating property prices would remain static.

"The Indian real estate consumer is still in the wait and watch mode. While there is active interest in the market, evinced by the time spent by consumers on Magicbricks searching for houses, the consumer still expects prices to hold for at least six months and is willing to wait to buy," Magicbricks Business Head Sudhir Pai said.

As per the survey, sentiment in Ahmedabad soared by 30 percent and can be attributed to the progressive policies and intelligent governance that led to mushrooming of various industries, the report said.

"The fact that the current reform-focused Prime Minister Narendra Modi hails from Ahmedabad has assisted in the heightened positive atmosphere in the city," Pai said.

Pune was the only city beside Ahmedabad to register higher sentiments this quarter, while Hyderabad posted an HSI of 104, a drop of 12 percent as compared to the previous quarter. Bangalore, however, registered a drop in sentiments.

"Although all cities posted positive sentiments, consumers expect prices to remain stable or rise marginally. With the economy expected to perform better, effective policies in the housing sector will ensure that positive sentiments translate into actual purchase," IIMB-Century Real Estate Research Initiative (CRERI) lead researcher Uma Sitaraman said.

Latest Realty News

Delhi Development Authority to have incentive policy for green buildings soon
Oct 30, 2014
NEW DELHI: The Delhi Development Authority is drafting a policy on financial and non-financial initiatives to promote green buildings in the national capital
Festivity buoys Uco
Oct 30, 2014
Calcutta: Public sector Uco Bank has registered an over 67 per cent year-on-year growth in retail credit during the festive season, largely driven by the strong demand for home loans
Centre relaxes norms for FDI in construction
Oct 30, 2014
New Delhi: The government has relaxed the norms for allowing foreign direct investment (FDI) in the construction development sector
Tata Housing Opts For Surmount Energy's BIM Consultancy Services
Oct 30, 2014
Navi Mumbai: TATA Housing has chosen Surmount Energy for BIM Consultancy for the proposed residential project in Kolkata
Chennai’s billionaires’ row
Oct 30, 2014
Chennai: Land value in the three most sought-after places in the city has doubled, and in some cases, tripled
YES Bank enters home loan business
Oct 30, 2014
Mumbai: Yes bank has entered the burgeoning housing loan market, with a focus on the affordable housing segment
The UK Housing 'Bubble' Is Deflating
Oct 30, 2014
The Bank of England released new figures providing more evidence that fears of a house price bubble in have been overblown
KDA speeds up New Transport Nagar scheme
Oct 29, 2014
Kanpur: The chief minister's proposed visit to the city activated Kanpur Development Authority and its officials have started an exercise to settle New Transport Nagar
Realty stocks surge on buzz Govt to take call on FDI relaxation for construction
Oct 29, 2014
Mumbai: Department of Industrial Policy and Promotion (DIPP) has proposed substantial easing of norms for affordable housing and the 100 smart cities
GHMC bulldozes floors for violating building rules
Oct 29, 2014
HYDERABAD: The Greater Hyderabad Municipal Corporation (GHMC) began demolition of illegal floors of a multi-storeyed apartment in Musheerabad

Latest Realty News Of State

Realty Talk's