Property prices in Chennai remained stable in February 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 February 2012 stands at 1538 as against 1510 in January 2012.
- Quarter Analysis: Over the last 3 months, saw a stable Chennai property market. The Chennai MPI has moved from 1554 in November 2011 to 1538 in February 2012.
- Year-on-Year Movement: As compared to last year, the Chennai Property Index in February 2012 has increased by 7.6%. The MPI figures have moved from 1430 in February 2011 to 1538 in February 2012.
- City Level: In the last one month most cities have seen stable property prices. Property prices in key markets - Mumbai, Bangalore, Chennai, Ahmedabad, Hyderabad and Pune have remained stable. Only Delhi and Kolkata 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: Mon Jun 11 2012