Make full use of the stabilized property prices: Makaan.com Property Index April-June 2013
So, you have been waiting since long to own your dream house? You have been waiting for a property price correction? Tired of living in a rented accommodation? Tired of shifting every 11 months and giving out the hard earned money on rent? Makaan.com Property Index [“MPI”] for April-June 2013 brings good news for the individuals aspiring to be homeowners in major areas. It is also a relief for the real estate industry that has been experiencing the absence of buyers.
In the present year, the government has taken quite a few initiatives to promote the first time/new homebuyers to invest in properties. The Union Budget 2013 made a declaration of increasing the home loan exemption limit from 1.5 to 2.5 lakhs, RBI slashed down its key interest rates making the home loans cheaper, the real estate regulatory bill got approval and there have been talks of facilitating affordable housing. But, have any of these steps motivated you enough to buy a property? We think not. Why? Because an average Indian professional is working hard to make ends meet, leave about buying a property that has a per square feet (psf) rate ranging between Rs. 8000 and Rs. 11000.
But now, you can stop worrying!! Prepare yourself to bring together all the income sources as Makaan.com brings you detailed and reliable market research and analysis that signifies good news for the homebuyers. The real estate market in India has started to show some amount of stability in property prices. The prices that always showed a rapid upward trend are now slowing down to embrace the buyers. The April-June 2013 MPI portrays that the national trends are favorable for the home buyers.
The National Situation
The National level index provides just the right amount of "push" a buyer needs for investing in real estate and fulfilling the dreams. Prices for property on a National level show a stabilized trend. The latest figures for April-June 2013 from the real estate market research and analysis point to a nation-wide increase of only 0.1%. Therefore, the prices for the quarter can be declared as being stable.
The National MPI, however, represents a 7.7% increase over the last 12 months.
A regional outlook over the 8 most real estate active regions in India:
> Mumbai calling: Prices on Downward trend
Over the span of three months, the Mumbai MPI displays a very interesting trend. The buyers interested in investing in the real estate market of Mumbai should rejoice as April-June 2013 MPI shows a decrease of 5.1%.
On a realistic note, although, there is a little scope for major property price correction, the homebuyers should take into consideration that present and timely investment into new properties of the area will yield highly beneficial returns. So, what are you waiting for? Time is Money and the time demands that you invest your money in real estate market of Mumbai.
> 6 Top Area Evolutions: Increased indexes
Over April-June 2013, the real estate active cities of Delhi, Kolkata, Chennai, Ahmedabad, Hyderabad and Pune have all seen an increase of property indexes. The investors of these regions should wait for some time for the property prices to stabilize or depreciate.
> Bangalore Stabilized
Bangalore is the only city that shows stabilized MPI over the quarter. The homebuyers should be on a look out as the property prices in Bangalore will probably tend to be stabilized and maintain their high-end investment potential over the next few months.
> Clear Objectives of MPI
Makaan.com Property Index (MPI) is part of MakaanIQ, the research and analysis website of Makaan.com that has been bringing out property intelligence & research reports for the benefit of homebuyers and real estate industry. The index is based on a minimum database size of 20,000 data points every month and the analysis have been drawn over a period starting Jan’09. The complex algorithm takes into account the property prices as base and then factors in the demand and supply of residential properties for each of the cities covered by it. Utmost care has been taken to give weight age to cities in line with the size of underlying property market.
The MPI is the most up-to-date sample of residential property asking prices. The index monitors changes in house prices monthly, annually and yearly, providing a comprehensive view on the present state of the property market in India.
Being on the look out for Makaan.com Property Index to make your move in the real estate market can be very valuable indeed, as it is updated every month and carries substantial and reliable data. MPI is as good as an encyclopedia for the real estate industry bases its findings on extensive property market research and analysis. For details check MPI or log on to MakaanIQ.