Property prices in Pune appreciate by 4.9% in November 2012 - says Makaan.com Property Index
Makaan.com Property Index – City level
Monthly Trend: The property prices in Pune witnessed an appreciation of 4.9% in the last one month. The Index in November 2012 stands at 1767 as against 1685 in October 2012.
Quarter Analysis: Over the quarter, Pune MPI figures have appreciated by 8.3%. It has moved from 1631 in August 2012 to 1767 in November 2012.
Year-on-Year Movement: As compared to last year, Pune Property Index in November 2012 has increased by 18.7%. Prices have been rising steadily, with minor highs and lows over the last year. The MPI figures have moved up from 1489 in November 2011 to 1767 in November 2012.
City Level: In the last one month most cities have seen much stability in property prices. Property prices in the key property markets: Kolkata, Ahmedabad and Hyderabad remained stable. Bangalore and Pune registered an increase, while Mumbai, Chennai and Delhi witnessed a depreciation.
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.