Prices of Houses go up to 7%
According to the National Housing Bank, important cities such as Delhi and Mumbai have experienced a price rise of about 7.1%. This has occurred within the months of January to March 2014. The reason for this is the surge in demand.
Seeing the recent updates of the NHB Residex, one can see price rise in places like Bhopal which has increased by 1.3% and in Surat by 7.1%. However, a fall in price has also been noticed in a couple of cities. To mention some, we could mention Vijaywada which ranged from 0.6%. It went all the way to -.5.7% in Patna of Bihar.
Places like Faridabad and Kochi have not shown any kind of change so far. Speaking of other places, price rise has been witnessed in Ahmedabad. This went up to 6.1%. Cities like Kolkata saw a 5.1% increase and Chennai went up to 5.8%.
In Chandigarh, Coimbatore, Indore, Pune and Vijaywada, there was a fall in price again. Other cities which faced a decline include Guwahati going down to a -3.75%, Bengaluru of -3.6%, Meerut of -3.5%, Bhubhaneshwar of -3.47% and finally Ludhiana of -3.3%.
There were around 26 cities which were taken into consideration by the Residex for the year 2014 between the months of January to March. The changes in prices and their trends for all the properties located in different sections and zones of each city were scrutinized thoroughly thorough this.
Source – Press Trust of India
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