City Lights: House price increase marginal across cities
- Patna High Court stays Nitish Kumar's election as JD(U) legislature party chief
- Arvind Kejriwal gets down to business, calls for full statehood for Delhi
- President Pranab Mukherjee warns against deviation from constitutional principles
- Sunanda Pushkar murder case: SIT to quiz Shashi Tharoor tomorrow
- Shanti Bhushan accuses Arvind Kejriwal of accepting 'tainted' money
House price increase marginal across cities
CITIES Apr-Jun Jul-Sep
Delhi 172 178
Mumbai 197 198
Pune 200 201
Bengaluru 100 98
Jaipur 78 85
Lucknow 171 175
Ahmedabad 174 180
Kolkata 196 191
Chennai 309 312
Faridabad 217 216
Ludhiana 171 168
NHB RESIDEX, the index that tracks the movement in prices of residential properties on a quarterly basis shows that for the quarter ended September 30, house prices have started to decline in some small towns while increase in major cities is mostly marginal, with the exception of Kochi and Jaipur. The movement in prices of house properties has shown marginally declining trend in eleven cities during the quarter ranging from -0.4 per cent in Faridabad to -4.8 in Surat, and a rise in nine cities ranging from 0.5 per cent in Mumbai to 10.1 per cent in Kochi as compared to the same period a year ago. After Kochi, increase was observed in Jaipur (9 per cent), Delhi (3.8 per cent), Ahmedabad (3 per cent), Bhubaneshwar (2.3 per cent), Lucknow (2.2 per cent), Chennai (0.8 per cent), Pune (0.7 per cent) and Mumbai (0.5 per cent). The Index for Delhi has been expanded to cover Gurgaon, Noida, Greater Noida and Ghaziabad.
US PE firm invests in Tata Housing project
Tata Housing Development Company has said that US-based Portman Holdings has invested about R65 crore in its luxury housing project in Bengaluru for a minority stake. The company is investing R650 crore over the next five years to develop 650 unit project in two phases. The price range of units is R1.5-3 crore, while villas at over R5 crore.
Ulwe emerges as top realty destination
Ulwe in Mumbai has emerged as the country's top destination for investment in the residential real estate where housing prices are expected to jump by 145 per cent over the next five years, according to a report by global property consultant Knight Frank. Wadala and Chembur in Mumbai are at second and third positions with price appreciation of 133 per cent and 125 per cent, respectively, during 2012-2017. In Delhi-NCR region, the consultant said Noida Extension and Dwarka Expressway are the best locations to invest where housing prices are expected to rise by 111 per cent and 108 per cent, respectively, by 2017.