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NHB Residex – Residential Housing Price Index Quarterly Update October-December, 2012 (20 Cities)

 
NHB Residex – Residential Housing Price Index Quarterly Update October-December, 2012 (20 Cities)
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