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NHB RESIDEX – Residential Housing Price Index Quarterly Update October-December, 2013 (26 Cities)

NATIONAL HOUSING BANK
New Delhi
February 11, 2014 
Press Release
NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX
Quarterly Update October-December, 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 October-December, 2013 covers 26 cities, with base year as 2007. The Residex for the quarter October-December, 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 October-December, 2013 (26 Cities)

The movement in prices of residential properties for the quarter October-December, 2013 has shown increasing trend in sixteen (16) cities ranging from 1.1% in Dehradun to 8.0% in Nagpur, and fall in eight (8) cities ranging from -1.2% in Kochi to -3.6% in Vijayawada in comparison to the previous quarter July-September, 2013. Index for 2 cities namely Mumbai and Ludhiana has remained stagnant.

Rising Trend: Residential housing prices in 16 cities have shown increase in prices in this quarter ended December, 2013 (October-December, 2013) over the previous quarter ended September, 2013 (July-September, 2013). Maximum increase was observed in Nagpur (8%) followed by Guwahati (7.4%), Pune (7.3%), Surat (6.2%), Patna (6.0%), Hyderabad (5.7%), Bhubneshwar (4.7%), Chennai (3.8%), Bengaluru (3.7%), Delhi (3.2%), Ahmedabad (3.1%), Faridabad (2.5%), Indore (2.2%), Bhopal (1.4%), Raipur (1.3%) and Dehradun (1.1%),

Declining Trend: 8 cities have shown decline in prices over the previous quarter with maximum fall observed in Vijayawada (-3.6%) followed by Lucknow (-3.1%), Meerut (-2.8%), Coimbatore (-2.8%), Jaipur (-2.8%), Chandigarh (-2.1%), Kolkata (-1.5%) and Kochi (-1.2%).

Index for 2 cities namely Mumbai and Ludhiana has remained stagnant.

CITY WISE HOUSING PRICE INDEX FOR THE QUARTER OCTOBER-DECEMBER, 2013

CITIES 2007 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

 

Oct-Dec 2013 Index

Hyderabad

100

84

79

86

85

84

90

88

84

88

93

Faridabad

100

206

218

217

217

216

205

207

202

204

209

Patna

100

141

140

129

140

138

151

152

147

150

159

Ahmedabad

100

163

167

164

174

180

191

192

186

191

197

Chennai

100

271

296

304

309

312

314

310

303

318

330

Jaipur

100

65

64

80

78

85

87

112

110

108

105

Lucknow

100

154

165

164

171

175

189

183

187

191

185

Pune

100

169

184

181

200

201

205

221

219

219

235

Surat

100

139

152

144

145

138

150

140

142

145

154

Kochi

100

97

82

72

73

80

87

89

86

86

85

Bhopal

100

208

211

204

207

206

216

230

227

220

223

Kolkata

100

191

190

191

196

191

209

197

189

199

196

Mumbai

100

194

193

190

197

198

217

222

221

222

222

Bengaluru

100

93

100

92

100

98

106

109

108

107

111

Delhi

100

154

167

168

172

178

195

202

199

190

196

Bhubneshwar

100

161

164

168

172

197

195

193

202

Guwahati

100

157

159

158

166

153

147

149

160

Ludhiana

100

163

171

168

179

167

157

150

150

Vijayawada

100

184

186

181

185

184

174

167

161

Indore

100

208

203

196

194

195

184

180

184

Chandigarh

100

 

194

191

192

188

Coimbatore

100

 

184

178

178

173

Dehradun

100

 

183

184

184

186

Meerut

100

 

191

189

176

171

Nagpur

100

 

163

168

162

175

Raipur

100

 

156

155

157

159