Property prices in Kolkata dropped by 7.7% in January 2012 - says Makaan.com Property Index
Makaan.com Property Index – City level
- Monthly Trend: The property prices in Kolkata have dropped by 7.7% in the last one month. The Index in January 2012 stands at 1404 as against 1521 in December 2011.
- Quarter Analysis: Last quarter saw a slight appreciation of property prices in Kolkata. The Kolkata MPI has seen a rise of 2.9% - it has moved from 1364 in October 2011 to 1404 in January 2012.
- Year-on-Year Movement: As compared to last year, the Kolkata Property Index in January 2012 has increased by 23.9%. The MPI figures moved from 1133 in January 2011 to 1404 in January 2012.
- City Level: In the last one month most cities have seen much stability in property prices. The index shows stability in property prices in the key property markets, Delhi, Chennai, Ahmedabad and Hyderabad. Rates at other key markets - Mumbai, Kolkata and Pune registered a drop. Only Bangalore registered a rise in property prices.
- 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 May 18 2012