City Lights: House price increase marginal across cities

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.

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