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NHB RESIDEX – Residential Housing Price Index Quarterly Update July – September 2013 (26 Cities)

NATIONAL HOUSING BANK
New Delhi
November 20, 2013 
Press Release
NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX
Quarterly Update July-September, 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 July-September, 2013 covers 26 cities, with base year as 2007. The Residex for the quarter July-September, 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 July-September, 2013 (26 Cities)

The movement in prices of residential properties for the quarter July-September 2013 has shown increasing trend in twelve (12) cities ranging from 0.46% in Mumbai to 5.30% in Kolkata, and fall in ten (10) cities ranging from -0.93% in Bengaluru to -6.88% in Meerut in comparison to the previous quarter April-June, 2013. Index for 4 cities namely Pune, Kochi, Coimbatore and Dehradun has remained stagnant.

Rising Trend: Residential housing prices in 12 cities have shown increase in prices in this quarter ended September, 2013 (July-September, 2013) over the previous quarter ended June, 2013 (April-June, 2013). Maximum increase was observed in Kolkata (5.30%) followed by Chennai (4.95%), Hyderabad (4.77%), Ahmedabad (2.69%), Lucknow (2.14%), Surat (2.12%), Patna (2.04%), Guwahati (1.36%), Raipur (1.29%), Faridabad (0.99%), Chandigarh (0.53%) and Mumbai (0.46)%.

Declining Trend: 10 cities have shown decline in prices over the previous quarter with maximum fall observed in Meerut (-6.88%) followed by Delhi (-4.53%), Ludhiana (-4.46%), Vijayawada (-4.03%), Nagpur (-3.58%), Bhopal (-3.09%), Indore (-2.18%), Jaipur (-1.82%), Bhubneshwar (-1.03%) and Bengaluru (-0.93%). Index for 4 cities namely Pune, Kochi, Coimbatore and Dehradun has remained stagnant.

CITY WISE HOUSING PRICE INDEX FOR THE QUARTER JULY- SEPTEMBER, 2013

CITIES 2007 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

 

July-Sep 2013 Index

Hyderabad

100

91

84

79

86

85

84

90

88

84

88

Faridabad

100

220

206

218

217

217

216

205

207

202

204

Patna

100

146

141

140

129

140

138

151

152

147

150

Ahmedabad

100

169

163

167

164

174

180

191

192

186

191

Chennai

100

248

271

296

304

309

312

314

310

303

318

Jaipur

100

64

65

64

80

78

85

87

112

110

108

Lucknow

100

160

154

165

164

171

175

189

183

187

191

Pune

100

150

169

184

181

200

201

205

221

219

219

Surat

100

149

139

152

144

145

138

150

140

142

145

Kochi

100

107

97

82

72

73

80

87

89

86

86

Bhopal

100

224

208

211

204

207

206

216

230

227

220

Kolkata

100

194

191

190

191

196

191

209

197

189

199

Mumbai

100

181

194

193

190

197

198

217

222

221

222

Bengaluru

100

92

93

100

92

100

98

106

109

108

107

Delhi

100

147

154

167

168

172

178

195

202

199

190

Bhubneshwar

100

161

164

168

172

197

195

193

Guwahati

100

157

159

158

166

153

147

149

Ludhiana

100

163

171

168

179

167

157

150

Vijayawada

100

184

186

181

185

184

174

167

Indore

100

208

203

196

194

195

184

180

Chandigarh

100

 

194

191

192

Coimbatore

100

 

184

178

178

Dehradun

100

 

183

184

184

Meerut

100

 

191

189

176

Nagpur

100

 

163

168

162

Raipur

100

 

156

155

15

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