Housing Prices Rise by Up to 9.6% in 18 Major Cities..!

Housing prices have risen in 18 major cities, including Delhi & Mumbai, by up to 9.6% during October to  December period 2012 compared with the previous quarter, according to National Housing Bank (NHB).

Mumbai and Delhi witnessed the maximum increase in housing price at 9.6% each.

Out of 20 cities tracked by NHB 'RESIDEX', prices have dropped in only 2 cities - Faridabad & Indore.

NHB said in a statement,  "In majority of the cities prices are witnessing upward trend"

"The movement in prices of residential properties has shown increasing trend in 18 cities ranging from 0.6% in Chennai to 9.6% in Delhi and Mumbai, and fall in only two cities namely Indore (minus 1.0%) and Faridabad ( minus 5.1%) during the quarter October to December 2012 in comparison to the previous quarter July to September 2012," it added.

Prices have shot up by 9.4% each in Kolkata & Patna, followed by Kochi (8.8%), Surat (8.7%), Bengaluru (8.2%) and Lucknow (8%).

Hyderabad city saw an appreciation in housing price by 7.1%, while in Ludhiana rates rose by 6.5%, Ahmedabad (6.1%), Guwahati (5.1%), Bhopal (4.9%), Bhubaneshwar and Jaipur (2.4% each), Vijayawada (2.2%), Pune (2%) and Chennai (0.6%).

NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis since 2007. The index for Delhi includes property transactions of Gurgaon, Noida, Greater Noida & Ghaziabad. 

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