NATIONAL HOUSING BANK
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%).