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Construction : Web Exclusive | May 2013 | Source : Construction Update

Home prices increase in 12 cities: NHB Residex

According to NHB Residex, released by the National Housing Bank (NHB), prices in Delhi rose by 3.59 per cent while in Mumbai and Bangalore it rose by 2.31 per cent and 2.83 per cent respectively during January-March period. The residential property prices in 12 Indian cities have risen during the January-March period with the maximum appreciation seen in Jaipur and Bhubneshwar at 28.74 per cent and 14.54 per cent respectively.

However, 8 cities have shown decline in prices over the previous quarter with maximum drop in Guwahati at 7.84 per cent followed by Ludhiana at 6.71 per cent and Kolkata at 5.75 per cent. NHB Residex tracks the movement in prices of residential properties on a quarterly basis since 2007.

The index for Delhi includes property transactions of Gurgaon, Noida, Greater Noida and Ghaziabad. The Residex has been included to add six new cities including Chandigarh, Meerut and Coimbatore. It covers a total of 26 cities now.

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