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