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NHB RESIDEX – Residential Housing Price Index Quarterly Update January – March 2013 (26 Cities)

NATIONAL HOUSING BANK
New Delhi
May 26, 2013 

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 January-March, 2013 covers 26 cities, with base year as 2007. The Residex for the quarter January-March, 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 January-March, 2013 (26 Cities)

The movement in prices of residential properties has shown increasing trend in twelve (out of 20 cities already being covered) cities ranging from 0.52% in Indore to 28.74% in Jaipur, and correction in eight  cities ranging from -0.54% in Vijaywada to -7.84% in Guwahati during the quarter January-March, 2013 in comparison to the previous quarter October-December, 2012. The Index for the quarter January-March, 2013 has witnessed increase in property prices in majority of the cities over the previous quarter.

The six new cities added from the period January-March, 2013 have shown increase in the prices compared to the Base Year 2007 with maximum increase witnessed in Chandigarh (94%) followed by Meerut (91%), Coimbatore (84%), Dehradun (83%), Nagpur (63%) and Raipur (56%).

Rising Trend: Residential housing prices in 12 cities have shown increase in prices in this quarter ended March, 2013 (January-March, 2013) over the previous quarter ended December, 2012 (October-December, 2012). Maximum increase was observed in Jaipur (28.74%) followed by Bhubneshwar (14.54%), Pune (7.81%), Bhopal (6.49%), Delhi (3.59%), Bengaluru (2.83%), Mumbai (2.31%), Kochi (2.30%), Faridabad (0.98%), Patna (0.67%), Ahmedabad (0.53%) and Indore (0.52%).

Declining Trend: 8 cities have shown decline in prices over the previous quarter with maximum fall observed in Guwahati (-7.84%) followed by Ludhiana (-6.71%), Surat (-6.67%), Kolkata (-5.75%), Lucknow (-3.18%), Hyderabad (-2.23%), Chennai (-1.28%) and Vijaywada (-0.54%).

Overall impression: Property prices in majority of the cities are witnessing     marginal upward trend.

CITY WISE HOUSING PRICE INDEX FOR THE QUARTER JANUARY- MARCH, 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

Hyderabad

100

83

91

84

79

86

85

84

90

88

Faridabad

100

165

220

206

218

217

217

216

205

207

Patna

100

146

146

141

140

129

140

138

151

152

Ahmedabad

100

165

169

163

167

164

174

180

191

192

Chennai

100

218

248

271

296

304

309

312

314

310

Jaipur

100

67

64

65

64

80

78

85

87

112

Lucknow

100

157

160

154

165

164

171

175

189

183

Pune

100

148

150

169

184

181

200

201

205

221

Surat

100

128

149

139

152

144

145

138

150

140

Kochi

100

86

107

97

82

72

73

80

87

89

Bhopal

100

167

224

208

211

204

207

206

216

230

Kolkata

100

211

194

191

190

191

196

191

209

197

Mumbai

100

175

181

194

193

190

197

198

217

222

Bengaluru

100

88

92

93

100

92

100

98

106

109

Delhi

100

126

147

154

167

168

172

178

195

202

Bhubneshwar

100

       

161

164

168

172

197

Guwahati

100

       

157

159

158

166

153

Ludhiana

100

       

163

171

168

179

167

Vijayawada

100

       

184

186

181

185

184

Indore

100

       

208

203

196

194

195

Chandigarh

100

 

 

 

 

 

 

 

 

194

Coimbatore

100

 

 

 

 

 

 

 

 

184

Dehradun

100

 

 

 

 

 

 

 

 

183

Meerut

100

 

 

 

 

 

 

 

 

191

Nagpur

100

 

 

 

 

 

 

 

 

163

Raipur

100

 

 

 

 

 

 

 

 

156