2nd highest rise in real estate recorded in Guwahati
Guwahati sees highest rise in the real estate prices in the last quarter of 2013
The last quarter of 2013 witnessed Guwahati registering the second highest rise in prices of residential properties among major cities in India. As per the National Housing Bank (NBH), a subsidiary of Reserve Bank of India (RBI), the prices of residential properties in 16 cities across India have shown increase in prices in October-December quarter of 2013 over the previous (July-September) quarter.
Nagpur recorded the highest increase of 8 per cent. While, Guwahati came a close second with a rise of 7.4 per cent. As per the NHB, the house price index, with a base year of 2007, stood at 160 in Guwahati in October-December quarter as against 149 in the previous quarter.
The point worth noting is that the residential property prices in Guwahati in the July-September quarter had risen by only 1.4 per cent, while they were seen declining during the first two quarters of 2013. 26 major cities were covered in the index and while coming up with the index, the agency has taken into account the price trends for residential properties in different locations and zones in each city.
Price appreciation in other cities
Among other cities which showed a rising trend in prices during the December quarter were Pune (7.3 per cent), Surat (6.2 per cent), Patna (6.0 per cent), Hyderabad (5.7 per cent), Bhubaneshwar (4.7 per cent), Chennai (3.8 per cent), Bengaluru (3.7 per cent), Delhi (3.2 per cent), Ahmedabad (3.1 per cent), Faridabad (2.5 per cent), Indore (2.2 per cent), Bhopal (1.4 per cent), Raipur (1.3 per cent) and Dehradun (1.1 per cent).
The cities shown declining trends in property prices
A declining trend in prices of residential properties over the previous quarter was witnessed by eight other cities. The maximum fall was seen in Vijayawada (-3.6 per cent), followed by Lucknow (-3.1 per cent), Meerut (-2.8 per cent), Coimbatore (-2.8 per cent), Jaipur (-2.8 per cent), Chandigarh (-2.1 per cent), Kolkata (-1.5 per cent) and Kochi (-1.2 per cent).
The index in two cities — Mumbai and Ludhiana — remained stagnant.
Source: The Assam Tribune
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