As buyers wait property index up just 1% in March qtr
NPI is a weighted average of supply and values across 11 cities in India. Across cities property values have either dropped or remained stable. With a 3 per cent increase Pune and Hyderabad recorded the highest rise in the city index this quarter while Ghaziabad and Ahmedabad saw a drop of 1 per cent each.
In the other cities, the index rose by 1-2 per cent or remained constant. In most cities, especially in Bangalore and Pune, properties in the Rs 30-50 lakh price range were the most preferred, while in Gurgaon and Mumbai high-end properties remained more in demand. Across the country the luxury category in cities remained oversupplied. In Delhi, with supply leading demand by 30 per cent, luxury properties priced above Rs 1 crore were over supplied.
Source: Economic Times
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