In Nov 2005, the rate was 400 rs per sq ft. 650% appreciation in 4 years!
Well if someone has bought in 400 psf and than actually sold in 2500 psf than we can call it an appreciation.
Something with just a price tag of 2500 psf but actually not getting sold at all is just speculation !!
Not 650 % but yes 300% - 400% is most likely which is just great !!