Property prices in India appreciate by 1.0% in April 2011 - says Makaan.com Property Index
Makaan.com Property Index – National
- Monthly Trend: At the National level, the property prices increased by 1.0% in the last one month. The Index in April 2011 stands at 1399 as against 1385 in March 2011.
- Quarter Analysis: Over the last 3 months, the MPI has seen a rise - it has moved from 1253 in January 2011 to 1399 in April 2011, a rise by 11.7%.
- Year-on-Year Movement: As compared to last year i.e. April 2010, the MPI in April 2011 has increased by 27.8%.Prices had dropped significantly in the second quarter of 2010 due to the economic slowdown.From thereon, the prices have been rising steadily, with minor highs and lows over the last 3 quarters.
Makaan.com Property Index – City level
- Monthly Trends: In the last one month most cities have seen increase in property prices.The key property markets, Hyderabad, Bangalore, Ahmedabad and Mumbai registered an increase in property rates. On a contrary major cities, Delhi and Kolkata registered a drop . Pune and Chennai remained stable.
- Quarter Analysis: Over the last quarter, i.e. between January 2011 to April 2011, there are many steep upward trends in property prices across cities.Delhi, Mumbai, Ahmedabad, Chennai, Hyderabad, Bangalore witness an appreciation, whereas, Pune remained stable and Kolkata saw a drop in property prices over the quarter.
- Year-on-Year Movement: Over the last 1 year,i.e. between April 2010 to April 2011, most cities have seen significant increase in property prices. Except for Kolkata, all other major cities, Delhi, Pune, Mumbai, Bangalore, Chennai and Hyderabad saw exceptional property price hikes. These cities have led the National Index to appreciate by 27.8% over the last 1 year.
- 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 Sep 06 2013