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NHB RESIDEX – Residential Housing Price Index Quarterly Update April – June 2013 (26 Cities)

NATIONAL HOUSING BANK
New Delhi
August 26, 2013 
Press Release
NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX
Quarterly Update April-June, 2013 (26 cities)

NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis. This is being done since 2007.

From the quarter January-March, 2013 NHB RESIDEX has been expanded to include 6 new cities namely Chandigarh, Coimbatore, Dehradun, Meerut, Nagpur and Raipur. The NHB RESIDEX now covers 26 cities.

This latest NHB RESIDEX for the quarter April-June, 2013 covers 26 cities, with base year as 2007. The Residex for the quarter April-June, 2013 constructed for 26 cities has taken into account the price trends for residential properties in different locations and zones in each city. Data on the transactions are collected from diverse sources and are classified, validated and applied to the model designed to give the representative Index for each city. The data based on actual transactions are put through a Model that depicts the trend in the market. The Residex is expected to bring greater uniformity and standardisation as well as greater transparency in the valuation of properties across the industry.

Price Movement for the quarter April-June, 2013 (26 Cities)

The movement in prices of residential properties for the quarter April-June 2013 has shown declining trend in majority of the cities (22 out of 26 cities covered) ranging from -0.45% in Mumbai to -5.99% in Ludhiana, and rise in four cities ranging from 0.55% in Dehradun to 3.07% in Nagpur during the quarter April-June, 2013 in comparison to the previous quarter January-March, 2013.

Rising Trend: Residential housing prices in 4 cities have shown increase in prices in this quarter ended June, 2013 (April-June, 2013) over the previous quarter ended March, 2013 (January-March, 2013). Maximum increase was observed in Nagpur (3.07%) followed by Lucknow (2.19%), Surat (1.43%) and Dehradun (0.55%).

Declining Trend: 22 cities have shown decline in prices over the previous quarter with maximum fall observed in Ludhiana (-5.99%) followed by Indore (-5.64%), Vijaywada (-5.43%), Hyderabad (-4.55%), Kolkata (-4.06%), Guwahati (-3.92%), Kochi (-3.37%), Patna (-3.29%), Coimbatore (-3.26%), Ahmedabad (-3.13%), Faridabad (-2.42%), Chennai (-2.26%), Jaipur (-1.79%), Chandigarh (-1.55%), Delhi (-1.49%), Bhopal (-1.30%), Meerut (-1.05%), Bhubneshwar (-1.02%), Bengaluru (-0.92%), Pune (-0.90%) , Raipur (-0.65%) and Mumbai (-0.45%).

Overall impression: Property prices in majority of the cities, 22 out of 26 are witnessing marginal downward trend.

CITY WISE HOUSING PRICE INDEX FOR THE QUARTER APRIL- JUNE, 2013

CITIES 2007 Index Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index Oct-Dec 2011 Index Jan-Mar 2012 Index Apr-Jun 2012 Index Jul-Sep 2012 Index  

Oct-Dec 2012 Index

 

Jan-Mar 2013 Index

 

Apr- Jun 2013 Index

Hyderabad

100

83

91

84

79

86

85

84

90

88

84

Faridabad

100

165

220

206

218

217

217

216

205

207

202

Patna

100

146

146

141

140

129

140

138

151

152

147

Ahmedabad

100

165

169

163

167

164

174

180

191

192

186

Chennai

100

218

248

271

296

304

309

312

314

310

303

Jaipur

100

67

64

65

64

80

78

85

87

112

110

Lucknow

100

157

160

154

165

164

171

175

189

183

187

Pune

100

148

150

169

184

181

200

201

205

221

219

Surat

100

128

149

139

152

144

145

138

150

140

142

Kochi

100

86

107

97

82

72

73

80

87

89

86

Bhopal

100

167

224

208

211

204

207

206

216

230

227

Kolkata

100

211

194

191

190

191

196

191

209

197

189

Mumbai

100

175

181

194

193

190

197

198

217

222

221

Bengaluru

100

88

92

93

100

92

100

98

106

109

108

Delhi

100

126

147

154

167

168

172

178

195

202

199

Bhubneshwar

100

161

164

168

172

197

195

Guwahati

100

157

159

158

166

153

147

Ludhiana

100

163

171

168

179

167

157

Vijayawada

100

184

186

181

185

184

174

Indore

100

208

203

196

194

195

184

Chandigarh

100

 

194

191

Coimbatore

100

 

184

178

Dehradun

100

 

183

184

Meerut

100

 

191

189

Nagpur

100

 

163

168

Raipur

100

 

156

155