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Housing prices bullish across cities

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Housing prices bullish across cities

Last updated: August 25 2012
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  • Housing prices bullish across cities

    HOUSING PRICES BULLISH ACROSS CITIES

    Prices of residential real estate remained bullish in most of the cities in the country despite slowdown in the economy.TEAM TIMES PROPERTY writes


    According to the residential real estate index prepared by the National Housing Bank (NHB),the housing prices in 16 cities including

    Delhi,Mumbai,Chennai,Bangalore,Pune,and Kolkata improved in the quarter ending June 2012,compared to the previous quarter ending March 2012.
    In fact,in most of these cities,prices improved quarter after quarter since January-June 2009 quarters barring in a few exceptions like Bangalore,Hyderabad,Jaipur,and Indore,where prices have corrected in some quarters.

    But when compared to prices in January-June 2009,when the index was first announced,the prices in the latest quarter have shown a significant jump.

    It is also because January-March 2009 was the first quarter when the impact of global bank crisis of 2008 was fully realized.In fact,the index of property prices in Delhi continued to fall till Ja nu a r y - M a rch 2010,when the index touched 106,from 121 in January-June 2009.

    According to the NHB,the prices of residential properties in 16 cities have shown an increasing trend in the range of 1.1% in Kochi to 10.5% in Pune,in April-June 2012 quarter,against the previous quarter.

    At the same time,it saw marginal decline in three cities Jaipur,Hyderabad and Indore.Faridabad remained stagnant in this quarter.

    QUICK BITES


    COMPARED TO PRICES IN JANUARY-JUNE 2009,WHEN THE INDEX WAS FIRST ANNOUNCED,THE PRICES IN THE LATEST QUARTER HAVE SHOWN A SIGNIFICANT JUMP


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