Property prices in India drop by 0.4% in October 2010 - says Makaan.com Property Index

Property prices in India drop by 0.4% in October 2010 - says Makaan.com Property Index

Property prices in India drop by 0.4% in October 2010 - says Makaan.com Property Index
Makaan.com Property Index – National

  • Monthly Trend: At the National level, the India properties prices have dropped by 0.4% in the last one month.The Index in October 2010 stands at 1170 as against 1175 in September 2010.

  • Quarter Analysis: Over the last 3 months, the national MPI has seen a small rise - it has moved from 1107 in July 2010 to 1170 in October 2010, an increase by 5.7%.
  • Year-on-Year Movement: As compared to last year i.e. October 2009, the MPI in October 2010 has moved up by 6.6%.Prices had gone up significantly in the second quarter of 2009 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 while some cities have seen an increase in property prices some have experienced drop in prices over the same period. Ahmedabad , Kolkata properties, Hyderabad and Delhi saw an increase in prices by 8.7%, 8.5%, 4% and 0.5% respectively. On the other hand cities like Chennai, Bangalore, Mumbai and Pune registered a drop by 8.5%, 3.2% ,1.1%, 1.1%, and respectively
  • Quarter Analysis: Over the last quarter, i.e. between July 2010 to October 2010, there are many steep upward and downward swings in property prices across cities. Cities like Ahmedabad saw property prices increase by 14.7%, Delhi saw prices rise by 11.6%, Mumbai prices increased by 4.7%, Bangalore prices increased by 4.2%, Pune prices increased by 3.9%, Kolkata and Hyderabad also saw prices increase by 2.8% and 0.8% respectively. On the other hand,Chennai is the only city that experienced a drop in property prices over the same period. Property prices in the city decreased by 10.9%.
  • Year-on-Year Movement: Over the last 1 year,i.e. between October 2009 to October 2010, some cities have seen significant increase in property prices. Ahmedabad, Delhi and Kolkata saw prices increase by 65.1%, 31.5%, 26.2% respectively. Other cities that also saw rise in prices are Pune, Hyderabad and Bangalore. Prices in these cities went up by 9.2%, 6.8% and 0.2% respectively. On the other hand Chennai and Mumbai saw decrease in property prices by 12.4% and 5.5% respectively. These cities have led the National Index to increase by 6.6% over the last 1 year.
  • Going forward: The signals from the Indian Economy are quite positive - Industrial output, Exports and the GDP are rising, and jobs are more secure than before. At the same time interest rates are likely to go up, which may make buyers cautious in their purchase decisions. In the current situation one would expect the realty sector to maintain stability of prices.
Last Updated: Mon Aug 26 2013

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