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

Prices of residential properties stagnant in Indore

In Indore, prices of residential properties continue to be stagnant compared to price of residential properties in Bhopal. It is despite the fact that both in the state are among 20 cities of the country, which have witnessed the maximum price hike in residential properties during January-March 2013 over the previous quarter, as per a study by the NHB (National Housing Bank) Residex.

While Indore has witnessed a price hike of merely 0.52%, Bhopal has witnessed the price hike at 6.49 per cent during the period, the study adds. The reason is Indore properties are being ruled by investors. In case of Bhopal, experts feel it is end users who dominate the scene. MD of an Indore-based realtor, IDB, Anil Nigam, said, Wherever, there are end-user-based development of property, price hike is uniform, but when investors become the focus, it marks the beginning of the stagnation.

Vice president of the Bhopal chapter of builders' body CREDAI, Manoj Singh Meek, said, "Even though being cheapest among all state capitals of the country, Bhopal's ruling high on the front for simple reason that it boasts of having more end-users than that investors.

 
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