1. Scope and Coverage of the Index
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 2012, NHB Residex has been further expanded to cover 5 (Five) more cities viz. Bhubaneshwar, Guwahati, Ludhiana, Vijayawada and Indore. The NHB RESIDEX now covers 20 cities. The Index for Delhi includes property transactions of Gurgaon, Noida, Greater Noida and Ghaziabad thereby expanding its coverage to National Capital Region (NCR).
This latest NHB RESIDEX for the quarter October-December, 2012 covers 20 cities, with base year as 2007. The Residex for the quarter October-December, 2012 constructed for 20 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 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.
2. Price Movement for the quarter October-December, 2012 (20 Cities)
The movement in prices of residential properties has shown increasing trend in eighteen cities ranging from 0.6% in Chennai to 9.6% in Delhi & Mumbai, and fall in only two cities namely Indore (-1.0%) and Faridabad (-5.1%) during the quarter October-December, 2012 in comparison to the previous quarter July-September, 2012. The Index for the quarter October-December, 2012 has witnessed significant increase in property prices in majority of the cities over the previous quarter.
Rising Trend: Residential housing prices in 18 cities have shown increase in prices in this quarter ended December, 2012 (October-December, 2012) over the previous quarter ended September, 2012 (July-September, 2012). Maximum increase was observed in Mumbai (9.6%) followed by Delhi (9.6%), Kolkata (9.4%), Patna (9.4%), Kochi (8.8%), Surat (8.7%), Bengaluru (8.2%), Lucknow (8.0%), Hyderabad (7.1%), Ludhiana (6.5%), Ahmedabad (6.1%), Guwahati (5.1%), Bhopal (4.9%), Bhubneshwar (2.4%), Jaipur (2.4%), Vijayawada (2.2%), Pune (2.0%) and Chennai (0.6%).
Declining Trend: 2 cities have decline in prices over the previous quarter namely Faridabad (-5.1%) and Indore (-1.0%).
Overall impression: In majority of the cities prices are witnessing upward trend.
CITY WISE HOUSING PRICE INDEX FOR THE QUARTER OCTOBER-DECEMBER, 2012
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 |
Hyderabad |
100
|
83
|
91
|
84
|
79
|
86
|
85
|
84
|
90
|
Faridabad |
100
|
165
|
220
|
206
|
218
|
217
|
217
|
216
|
205
|
Patna |
100
|
146
|
146
|
141
|
140
|
129
|
140
|
138
|
151
|
Ahmedabad |
100
|
165
|
169
|
163
|
167
|
164
|
174
|
180
|
191
|
Chennai |
100
|
218
|
248
|
271
|
296
|
304
|
309
|
312
|
314
|
Jaipur |
100
|
67
|
64
|
65
|
64
|
80
|
78
|
85
|
87
|
Lucknow |
100
|
157
|
160
|
154
|
165
|
164
|
171
|
175
|
189
|
Pune |
100
|
148
|
150
|
169
|
184
|
181
|
200
|
201
|
205
|
Surat |
100
|
128
|
149
|
139
|
152
|
144
|
145
|
138
|
150
|
Kochi |
100
|
86
|
107
|
97
|
82
|
72
|
73
|
80
|
87
|
Bhopal |
100
|
167
|
224
|
208
|
211
|
204
|
207
|
206
|
216
|
Kolkata |
100
|
211
|
194
|
191
|
190
|
191
|
196
|
191
|
209
|
Mumbai |
100
|
175
|
181
|
194
|
193
|
190
|
197
|
198
|
217
|
Bengaluru |
100
|
88
|
92
|
93
|
100
|
92
|
100
|
98
|
106
|
Delhi |
100
|
126
|
147
|
154
|
167
|
168
|
172
|
178
|
195
|
Bhubneshwar |
100
|
|
|
|
|
161
|
164
|
168
|
172
|
Guwahati |
100
|
|
|
|
|
157
|
159
|
158
|
166
|
Ludhiana |
100
|
|
|
|
|
163
|
171
|
168
|
179
|
Vijayawada |
100
|
|
|
|
|
184
|
186
|
181
|
185
|
Indore |
100
|
|
|
|
|
208
|
203
|
196
|
194
|
|
|