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Property prices in Chennai appreciate by 2.6% in December 2012 - says Makaan.com Property Index

Property prices in Chennai appreciate by 2.6% in December 2012 - says Makaan.com Property Index

Property prices in Chennai appreciate by 2.6% in December 2012 - says Makaan.com Property Index

Makaan.com Property Index – City level

Monthly Trend: The property prices in Chennai have appreciated by 2.6% in the last one month. The Index in December 2012 stands at 1383 as against 1347 in November 2012.


Quarter Analysis: Over the last quarter, the MPI has seen much stable figures; it has moved up from 1398 in September 2012 to 1383 in December 2012, a meager drop of 1.1%.

Year-on-Year Movement: As compared to last year, the Chennai Property Index in December 2012 has dropped by 10.1%. This indicates a steady price depreciation, with highs and lows over the last year. The MPI figures moved down from 1538 in December 2011 to 1383 in December 2012.

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

Last Updated: Mon Feb 25 2013

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