Prices of residential property in Chennai, Delhi & Faridabad have risen the steepest in the one year period up to the end of the first quarter (April 2011 to March 2012) of the calendar year 2012.
Present levels of NHB (National Housing Bank) Residex, an index which tracks the residential property prices in 15 cities, indicates Chennai, Delhi & Faridabad have registered a growth of 39.45%, 33.33% & 31.52%, respectively, during January to March 2012 period, over the corresponding period last year.
Sametime Kochi, Kolkata & Ahmedabad have witnessed a negative growth of 16.28%, 9.48% & 0.61%, respectively.
Over a longer duration of 4 years, the residential property index, whose January to March data was released by the NHB on recently, indicated housing prices in Chennai have gone up around 192.31% during January to March 2012 period, compared with the January to June 2008 period. Faridabad has witnessed a rise of 117% in residential property prices during the same period. This means a housing property bought in Chennai 4 years back for Rs. 10 lakh, will be around Rs. 30 lakh at present.
Southern cities of Kochi & Hyderabad have, however, experienced a negative growth in housing prices in the past 4 years. While the prices of houses have gone down 32.08% in Kochi, Hyderabad has shown a decline of 10.42%.
Mr. R.V. Verma, CMD, NHB said, “In Chennai, property prices have gone up primarily because of the resurgence of the industrial sector & high demand of land. Similarly, a lot of infrastructure development has taken place in Faridabad, including roads & plans to have Metro train connectivity in the last 4 years. A declining trend in housing prices in some other cities may be attributed to delay in decision making by the industrial community in their investment decision,” .
Other cities like Pune, Mumbai & Kolkata have also registered a trend of rising house prices with 79.21%, 69.64% & 67.54% growth, respectively. Housing prices in Delhi have gone up by about 35.48% over the past 4 years.
About Residex..!
The NHB had incorporated the residential property index in 2007 and has been monitoring the trend of 15 cities. The index tracks the home price trends in different locations of the city based on the data from various sources involved in property transactions. It helps property buyers and home loan borrowers with comparisons across cities & localities based on developing trends. Housing loan borrowers can also estimate the value of their property in future with reference to the index.
Head Office:
National Housing BankCore 5A, India Habitat Centre, 3rd-5th floor, Lodhi Road,
New Delhi - 110003 Phone No. +91-11-24649031 to 35
FAX No. +91-11-24646988, 24649041
e-mail : ho@nhb.org.in
Regional Office: National Housing BankMumbai Life Building, 45, Veer Nariman Road,
Fort, Mumbai - 400023 Phone No. +91-22- 22851560-64
FAX No. +91-22-22851555 e-mail : romum@nhb.org.in
Representative Office- Chennai
National Housing Bank
M.T.B. Building (North Wing),Ground Floor, 485, Annasalai, Nandanam,
Chennai 600 035.
Mr. W.C. Robin,
Relationship Manager Mobile No. +91-9444991104
TelePhone +91-44-24320761
TeleFax +91-44-24331180 e-mail : rochn@nhb.org.in
Source : NHB
Present levels of NHB (National Housing Bank) Residex, an index which tracks the residential property prices in 15 cities, indicates Chennai, Delhi & Faridabad have registered a growth of 39.45%, 33.33% & 31.52%, respectively, during January to March 2012 period, over the corresponding period last year.
Sametime Kochi, Kolkata & Ahmedabad have witnessed a negative growth of 16.28%, 9.48% & 0.61%, respectively.
 |
| Mr. R.V. Verma |
Over a longer duration of 4 years, the residential property index, whose January to March data was released by the NHB on recently, indicated housing prices in Chennai have gone up around 192.31% during January to March 2012 period, compared with the January to June 2008 period. Faridabad has witnessed a rise of 117% in residential property prices during the same period. This means a housing property bought in Chennai 4 years back for Rs. 10 lakh, will be around Rs. 30 lakh at present.
Southern cities of Kochi & Hyderabad have, however, experienced a negative growth in housing prices in the past 4 years. While the prices of houses have gone down 32.08% in Kochi, Hyderabad has shown a decline of 10.42%.
CITY WISE HOUSING PRICE INDEX
(UPDATING UPTO QUARTER JANUARY-MARCH 2012)
CITIES
|
2007 Index
|
Jan-Mar 2012 Index
|
Hyderabad
|
100
|
86
|
Faridabad
|
100
|
217
|
Patna
|
100
|
129
|
Ahmedabad
|
100
|
164
|
Chennai
|
100
|
304
|
Jaipur
|
100
|
80
|
Lucknow
|
100
|
164
|
Pune
|
100
|
181
|
Surat
|
100
|
144
|
Kochi
|
100
|
72
|
Bhopal
|
100
|
204
|
Kolkata
|
100
|
191
|
Mumbai
|
100
|
190
|
Bengaluru
|
100
|
92
|
Delhi
|
100
|
168
|
Bhubaneshwar
|
100
|
161
|
Guwahati
|
100
|
157
|
Ludhiana
|
100
|
163
|
Vijayawada
|
100
|
184
|
Indore
|
100
|
208
|
Mr. R.V. Verma, CMD, NHB said, “In Chennai, property prices have gone up primarily because of the resurgence of the industrial sector & high demand of land. Similarly, a lot of infrastructure development has taken place in Faridabad, including roads & plans to have Metro train connectivity in the last 4 years. A declining trend in housing prices in some other cities may be attributed to delay in decision making by the industrial community in their investment decision,” .
Other cities like Pune, Mumbai & Kolkata have also registered a trend of rising house prices with 79.21%, 69.64% & 67.54% growth, respectively. Housing prices in Delhi have gone up by about 35.48% over the past 4 years.
CHENNAI City Residex..!
Zones
|
2007
Index
|
Jan-Mar
2010 Index
|
Oct-Dec
2011 Index
|
Jan –Mar 2012 Index
|
|
Zone 1
|
Dr Radhakrishnan Nagar
|
100
|
158
|
202
|
202
|
Zone 2
|
Tondiarpet; Narayanappa Garden
|
100
|
187
|
252
|
257
|
Zone 3
|
Perambur; Choolai; Edapalayam
|
100
|
197
|
377
|
337
|
Zone 4
|
Ayanavaram; Purasawalkam; Kolathur
|
100
|
283
|
618
|
652
|
Zone 5
|
Virugambakkam; Anna Nagar;
Kilpauk; Nungambakkam
|
100
|
163
|
604
|
634
|
Zone 6
|
Nehru Nagar; Chepauk; Marina
|
100
|
175
|
267
|
228
|
Zone 7
|
Chetpet; Egmore
|
100
|
103
|
157
|
183
|
Zone 8
|
Ashok Nagar; Thyagaraya Nagar;
Saligramam
|
100
|
232
|
427
|
496
|
Zone 9
|
Kodambakkam; Guindy; Chromepet
|
100
|
171
|
228
|
264
|
Zone 10
|
Mylapore; Adyar; Velachery;
Thriuvanmiyur
|
100
|
141
|
382
|
352
|
Chennai City Index
|
100
|
164
|
296
|
304
|
About Residex..!
The NHB had incorporated the residential property index in 2007 and has been monitoring the trend of 15 cities. The index tracks the home price trends in different locations of the city based on the data from various sources involved in property transactions. It helps property buyers and home loan borrowers with comparisons across cities & localities based on developing trends. Housing loan borrowers can also estimate the value of their property in future with reference to the index.
Head Office:
National Housing BankCore 5A, India Habitat Centre, 3rd-5th floor, Lodhi Road,
New Delhi - 110003 Phone No. +91-11-24649031 to 35
FAX No. +91-11-24646988, 24649041
e-mail : ho@nhb.org.in
Regional Office: National Housing BankMumbai Life Building, 45, Veer Nariman Road,
Fort, Mumbai - 400023 Phone No. +91-22- 22851560-64
FAX No. +91-22-22851555 e-mail : romum@nhb.org.in
Representative Office- Chennai
National Housing Bank
M.T.B. Building (North Wing),Ground Floor, 485, Annasalai, Nandanam,
Chennai 600 035.
Mr. W.C. Robin,
Relationship Manager Mobile No. +91-9444991104
TelePhone +91-44-24320761
TeleFax +91-44-24331180 e-mail : rochn@nhb.org.in
Source : NHB
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