Property prices in Chennai has remained stable in March 2012 - says Makaan.com Property Index
Makaan.com Property Index – City level
- Monthly Trend: The property prices in Chennai have remained stable in the last one month. The Index in March 2012 stands at 1510 as against 1538 in February 2012.
- Quarter Analysis: Over the last quarter, the MPI has seen much stable figures - it has moved from 1538 in December 2011 to 1510 in February 2012, a meager drop of 1.8%.
- Year-on-Year Movement: As compared to last year, the Chennai Property Index in March 2012 has increased by 5.1%. This indicates a steady price appreciation, with minor highs and lows over the last year. The MPI figures moved from 1436 in March 2011 to 1510 in March 2012.
- City Level: In the last one month most cities have seen stable property prices. Property prices in key markets - Delhi, Kolkata, Chennai, Ahmedabad, Hyderabad and Pune have remained stable. Only Mumbai and Bangalore registered a slight appreciation.
- 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: Wed Jul 11 2012