2008 to 2012: Property Prices in Chennai has gone up by 230% .

Pune has rise of 111%, Ahmedabad also rowth of 91%

As per the latest quarterly Residex announced by National Housing Bank (NHB) for October-December 2012, residential property prices in Jaipur & Delhi have become dearer by 35.9% and 16.8%, respectively, over the same period of 2011. The next highest rise of 14.5%cent was seen in Lucknow.

The cities that saw a year-on-year decline in residential property prices were Faridabad & Surat, where prices went down by 6% and 1.3%, respectively, in October-December 2012 period. Other major cities of Mumbai, Bengaluru, Kolkata, Hyderabad, Chennai & Ahmedabad saw increase in prices to the tune of 12.4%, 6%, 10%, 13.9%, 6.1%, 14.4%, respectively.

Over the last 4 year, Chennai & Pune witnessed steep rise in residential property prices. Housing property prices in Chennai has gone up by 230.5% in October-December 2012 period, compared with July–December 2008. Similarly, Pune has witnessed a rise of 111.3% in residential property prices during the 4 year period.

Ahmedabad also witnessed a healthy growth of 91% in housing property prices since December 2008. Residential property price in Mumbai has gone up by 85.5 per cent in October-December 2012 period, compared with July–December 2008.

Residential property prices in Jaipur have shown a decline of 24.3% during the 4 year period, while property prices in Kochi & Hyderabad have gone down by 8.4% and 2.2%, respectively.

Mr. R.V .Verma, Chairman and Managing Director, NHB, “Generally, we have witnessed housing prices go up at places witnessing lot of infrastrusture development, whereas, prices decline in cities suffering delay in investment-related decisions by industrial community”

Mr.R. V. Verma, CMD, NHB 

Residex was formed by NHB in 2007 to monitor the housing property prices in 15 cities. Over a period of 4 years, NHB has added 5 more cities in the index, with further plans to increase the number of cities. Index is based on various localities within a specific city.

NHB also intends to release the index on a monthly basis, starting from March, instead of on a quarterly basis.

Top Increase by a Year..!

Jaipur              35.9%

Delhi                16.8 %

Lucknow          14.5 %

Ahmedabad     14.4 %

Hyderabad       13.9%

Mumbai           12.4 %

Pune               11.4 %

Kolkata           10.0 %

Bengaluru        6.0 %

Patna              7.9%

Kochi               6.1%

Chennai           6.1 %

Hyderabad       2.2 %

NHB Residex

Base Year: 2007 = 100

Delhi with NCR | Bangalore | Mumbai | Kolkata | Bhopal | Hyderabad | Faridabad | Patna | Ahmedabad | Chennai | Jaipur | Lucknow |Pune | Surat | Kochi | Bhubaneshwar | Guwahati | Ludhiana | Vijayawada | Indore

CITY WISE HOUSING PRICE INDEX (UPDATING UPTO  QUARTER JULY-SEPTEMBER 2012) CITIES Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index Apr-Jun 2012 Index Jul-Sep 2012 Index Hyderabad 83 91 84 85 84 Faridabad 165 220 206 217 216 Patna 146 146 141 140 138 Ahmedabad 165 169 163 174 180 Chennai 218 248 271 309 312 Jaipur 67 64 65 78 85 Lucknow 157 160 154 171 175 Pune 148 150 169 200 201 Surat 128 149 139 145 138 Kochi 86 107 97 73 80 Bhopal 167 224 208 207 206 Kolkata 211 194 191 196 191 Mumbai 175 181 194 197 198 Bengaluru 88 92 93 100 98 Delhi 126 147 154 172 178 Bhubaneshwar 164 168 Guwahati 159 158 Ludhiana 171 168 Vijaywada 186 181 Indore 203 196

National Housing Bank

Core 5-A, India Habitat Centre,

Lodhi Road, New Delhi-110003

(PBX) 011-2464 9031-35

Fax : 011-2464 9030

E-mail: ho@nhb.org.in

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