Property prices in Delhi/NCR remains stable in March 2012- says Makaan.com Property Index
Makaan.com Property Index – City level
- Monthly Trend: The property prices in Delhi/NCR have remained stable in the last one month. The Index in March 2012 stands at 1572 as against 1590 in February 2012.
- Quarter Analysis: Over the last quarter, the MPI has seen stable figures - it has moved from 1546 in December 2011 to 1572 in March 2012, a small rise of 1.7%.
- Year-on-Year Movement: As compared to MPI figures in the last year, the Delhi/NCR Property Index in March 2012 falls within a stable range. Prices have been varying with minor highs and lows over the last one year. The MPI figure moved has from 1600 in March 2011 to 1572 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