Property prices in Hyderabad dropped by 4.37% in November 2011 - says Makaan.com Property Index
Makaan.com Property Index – City level
- Monthly Trend: The property prices in Hyderabad have dropped by 4.37% in the last one month. The Index in November 2011 stands at 1076 as against 1125 in October 2011.
- Quarter Analysis: Over the last 3 months, the MPI has seen a drop of 16.32% - it has moved from 1286 in August 2011 to 1076 in November 2011.
- Year-on-Year Movement: As compared to last year, the Hyderabad Property Index in November 2011 has increased by 4.93%. Prices had dropped significantly in the second quarter of 2010 due to the economic slowdown. The Telengana issue also contributed much to the down turn of property prices in Hyderabad.
- City Level: Over the last 1 year,i.e. between November 2010 to November 2011, all the cities saw a significant increase in property prices. Property prices in Bangalore, Chennai and Pune witnessed maximum 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: Fri Feb 17 2012