NPI rise by 3% in Q3 of FY2013
According to a survey, the National Property Index (NPI) rose by over three percent October-December quarter (2012) as compared to the preceding three months quarter. These results were obtained despite weak buyer sentiments prevailing in market.
National Property Index (NPI) is a weighted average of supply and prices across 11 cities namely Bangalore, Ghaziabad, Mumbai, Hyderabad, Pune, Delhi, Kolkata, Chennai, Gurgaon, Noida and Ahmedabad.
Nine out 11 cities witnessed marginal rise while one registered stable values and the other one recorded a small drop in the city index.
As per the report, the nine cities which saw marginal rise during the October-December 2012 quarter are Ghaziabad, Mumbai, Hyderabad, Pune, Delhi, Kolkata, Chennai, Gurgaon and Noida.
In the same time period, Ahmedabad witnessed stable values and Bangalore remained largely stable and saw two percent of drop in the index value.
The report stated that cities like Bangalore, Hyderabad and Ahmedabad received greater demand for premium properties as compared to Mumbai and Delhi. The significant difference in capital values resulted in this high demand.
Multistorey apartments are the most highly preferred property type across the nation, says the report. Around 65 percent of the total demand for multi-storey apartments was driven by six of the 11 cities.
Around 24 percent of maximum consumer demand was witnessed in the residential property of price range Rs 30-50 lakh. The second highest demand was recorded in affordable properties in the price bracket of up to Rs 20 lakh.
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Multi-storey apartments, National Property Index, NPI, premium properties in Ahmedabad, premium properties in Bangalore, premium properties in Delhi, premium properties in Hyderabad, premium properties in Mumbai, Residential properties
