Housing prices show mixed trends across India in Q2
22 November 2013
Housing prices in India showed a mixed trend in the July-September quarter this year, rising in 12 cities by up to 5.3 per cent while declining in 10 cities, including Delhi and the National Capital Region, by up to 7 per cent, according to the National Housing Bank (NHB) Residex released today.
Housing prices in Delhi saw a decline of 4.5 per cent in the quarter compared with the April-June quarter. However, they jumped by 6.7 per cent on an annual basis, the Residex showed.
The maximum decline in prices was seen in Meerut (western Uttar Pradesh) where houses became cheaper by 6.9 per cent. The maximum rise was seen in Kolkata, at 5.3 per cent.
Prices in Mumbai rose by a comparatively modest 0.5 per cent. In Bangalore, housing prices dropped 0.9 per cent.
The index for four cities - Pune, Kochi, Coimbatore and Dehradun - remained unchanged, the data showed.
Housing prices in Chennai rose by 4.95 per cent, Hyderabad 4.77 per cent, in Ahmedabad 2.69 per cent, in Lucknow 2.14 per cent, and in Patna 2.04 per cent.
Prices in Ludhiana moderated by 4.46 per cent, Vijayawada 4.03 per cent, Nagpur 3.58 per cent, Bhopal 3.09 per cent, Indore 2.18 per cent, Jaipur 1.82 per cent, Bhubneshwar 1.03 per cent and Bengaluru 0.93 per cent.
The NHB Residex for the quarter covers 26 cities, with the base year as 2007.