Housing prices have increased marginally by an average 1.1 per cent in 20
major cities, including Delhi and Mumbai, in January-March 2013 over the
previous quarter due to slowdown in demand, National Housing Bank (NHB) said on
recently.
Residential housing prices in 12 cities have shown increase in prices in
this quarter ended March over the previous quarter (October t o December,
2012), quarterly update of NHB Residex said.
On the contrary, 8 cities have shown decline in
prices over the previous quarter with maximum fall observed in Guwahati (-
7.84%) followed by Ludhiana (- 6.71%), Surat (-6.67 %). Besides, price
correction was witnessed in Kolkata by 5.75%, Lucknow by 3.18%, Hyderabad 2.23%
and Chennai 1.28%.
Property prices in majority of the cities are witnessing marginal upward
trend, NHB said in a statement.
Price increase was witnessed in Jaipur (28.74%), followed by Bhubneshwar
(14.54%), Pune (7.81%), Bhopal (6.49%), Delhi (3.59%), Bengaluru (2.83%),
Mumbai (2.31 %), Kochi (2.30 %) and Faridabad (0.98%).
NHB Residex tracks the movement in prices of residential properties on a
quarterly basis since 2007.
The index for Delhi includes property transactions in Gurgaon, Noida,
Greater Noida and Ghaziabad.
NHB Residex has been expanded to include 6 new cities namely Chandigarh, Coimbatore,
Dehradun, Meerut, Nagpur and Raipur from this quarter.
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