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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