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Property prices in Mumbai rise by 9% in Aug 2010 - says Makaan.com Property Index

Property prices in Mumbai rise by 9% in Aug 2010 - says Makaan.com Property Index

Property prices in Mumbai rise by 9% in Aug 2010 - says Makaan.com Property Index
  • Monthly Trend: The property prices in Mumbai have increased by 9% in the last one month. The Index in August 2010 stands at 1269 as against 1164 in July 2010.

  • Quarter Analysis: Over the last 3 months, the MPI has seen a rise - it has moved from 1183 in May 2010 to 1269 in August 2010, a 7.2% increase.
  • Year-on-year movement: As compared to last year, the MPI in Aug 2010 has moved up by 13.5%. Prices had dropped 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.
  • City Level: Over the last 1 year, i.e. between Aug 2009 to Aug 2010, most cities have seen significant increase in property prices. Ahmedabad, Kolkata & Delhi have seen very steep price increases – upwards of 27%. Pune, Mumbai property & Bangalore have also seen 7% - 14% rise in property prices. Property prices in Hyderabad have grown by 2.6%. These cities have helped the National Index to move up by 13.9% over the last 1 year. Pulling the Index down are the property prices in Chennai that have seen a reduction of 12.7%.
  • 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: Wed Aug 21 2013

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