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Bhubaneshwar, Visakhapatnam and Raipur are among 10 cities which saw maximum increase in prices of residential properties in the quarter ended March 31, 2017, over the previous quarter, according to National Housing Bank’s analysis of price movements under its housing price index (HPI).
Jaipur, Chennai and Lucknow feature among the seven cities which saw maximum increase in prices of under-construction residential properties in the relevant period.
Referring to lenders’ valuation data, NHB said out of 50 cities covered for the quarter ended March, the upward movements in prices of residential properties were seen in 27 cities over the previous quarter ended December 2016.
Maximum increase in prices of residential properties was observed in 10 cities — Bhubaneshwar (11.7 per cent), Visakhapatnam (10.9 per cent), Raipur (10 per cent), Kanpur (8.1 per cent), Gurgaon (6.7 per cent), Chandigarh (6.2 per cent), Coimbatore (4.9 per cent), Mumbai (3.7 per cent), Vadodara (3.7per cent) and Chakan (3.7 per cent).
However, 19 cities have shown decline in prices over the previous quarter with maximum fall observed in Ranchi (13 per cent) followed by Gandhinagar (12 per cent), Surat (8.9 per cent), Ludhiana (7.8 per cent), and Kolkata (7.2 per cent).
As for market prices of under-construction properties, NHB said out of 47 cities covered for the quarter ended March, upward movement in prices of residential properties was seen in 24 cities over the previous quarter ended December 2016.
Gainers & losers Maximum increase in prices of under-construction properties was observed in seven cities — Jaipur (8.7 per cent) followed by Chennai (6.5 per cent), Lucknow (5.7 per cent), Guwahati (5.2 per cent), Howrah (5 per cent), Hyderabad (4.4 per cent) and Bidhannagar (4.1 per cent).
However, 14 cities have shown decline in prices of under-construction properties over the previous quarter with maximum fall observed in Patna (16.2 per cent) followed by Nashik (6.3 per cent), Delhi (4.3 per cent), Faridabad (3.9 per cent), and Chandigarh (3.4 per cent).
NHB said its residential index (RESIDEX) will cover more cities across India and its scope will also be widened to include land price indices (LPI), building materials price indices (BMPI) and housing rental index (HRI) along with the HPI, to enable stakeholders to have a comprehensive view on housing and related indices.
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