Property prices in Delhi remain stable in December 2012 - Says Makaan.com Property Index
Makaan.com Property Index – City level
Monthly Trend: The property prices in Delhi/NCR remain stable from last month. The Index in December 2012 stands at 1493 as against 1507 in November 2012.
Quarter Analysis: MPI for Delhi has seen a high drop of 9.4% over the last quarter; it has dropped from 1649 in September 2012 to 1493 in December 2012.
Year-on-Year Movement: As compared to MPI figures in the last year, the Delhi/NCR Property Index in December 2012 fell by 3.4%. Prices have been varying with minor highs and lows over the last one year. The MPI figure moved has from 1546 in December 2011 to 1493 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.