Property prices in Ahmedabad remained stable in November 2012 - says Makaan.com Property Index

Makaan.com Property Index – City level

Monthly Trend: The property prices in Ahmedabad have remained stable in the last one month. The Index in November 2012 stands at 1935 as against 1930 in October 2012.

Quarter Analysis: Over the last quarter, the MPI has seen property prices in a much stable state; it has moved from 1951 in August 2012 to 1935 in November 2012. This indicates a slight property price depreciation; however, much within stable lines.

Year-on-Year Movement: As compared to last year, the Ahmedabad Property Index in November 2012 is stable. The prices have been stable, with minor highs and lows over the last year. The MPI figure has moved from 1939 in November 2011 to 1935 in November 2012.

City Level: In the last one month most cities have seen much stability in property prices. Property prices in the key property markets: Kolkata, Ahmedabad and Hyderabad remained stable. Bangalore and Pune registered an increase, while Mumbai, Chennai and Delhi witnessed depreciation.

Going forward: Indian Real Estate market is going through a challenging phase with multiple macro economic headwinds like poor liquidity for developers, increased cost of construction, high land prices, delayed projects, high interest rates. These factors are keeping the home buyers away from the market. Over the coming months the property prices in India are likely to move in a narrow range with a slight negative bias.