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Housing Prices Rise In 18 Cities By Up To 3.9%

Monday, November 03, 2014
By A Business Reporter

Housing prices appreciated in 18 major cities by up to 3.9% in April-June over the preceding quarter while property rates fell in six cities including Delhi, according to National Housing Bank (NHB). In the national capital, housing prices dropped by 3% during the first quarter of this fiscal compared with the January-March 2014. Maximum price increase was witnessed in Pune by 3.9%, while Chandigarh saw highest fall of 4.4%, according to NHB's 'RESIDEX'. NHB had launched housing index 'RESIDEX' in July 2007 to track the movement of housing prices on a quarterly basis. It currently covers 26 cities. Prices in two cities -- Hyderabad and Raipur -- remained stagnant. "The movement in prices of residential properties for the quarter April-June, 2014 has shown marginal increasing trend in 18 cities ranging from 0.5% in Bhubaneswar to 3.9% in Pune, and fall in 6 cities ranging from -0.5% in Lucknow to -4.4% in Chandigarh in comparison to the previous quarter January-March, 2014," NHB said in a statement.

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