Rise in Housing real estate prices in India’s 18 cities

PNI1 Rise in Housing real estate prices in India’s 18 cities

 

Rise in Housing real estate prices in India’s 18 cities :

As per the views from National Housing Bank or NHB, there is an increase in housing prices in 18 major cities of the country by up to 3.9 per cent in the time frame of April-June 2014. This also means that the real estate segment is set to move towards recovery.

It is important to note that in the national capital region of Delhi, housing price points dropped by about 3 per cent during the first quarter of this fiscal compared with the January-March period 2014 and hence this data point becomes even more important to signal off recovery in the real estate business.

According to the data points released by NHB, there was the maximum price increase which was witnessed in the city of Pune by 3.9 per cent, while the union territory of Chandigarh saw highest fall of 4.4 per cent, as per the latest NHB’s ‘RESIDEX’.

This news of increasing price points comes as a fresh breeze of air for India’s real estate which is experiencing a sluggish period of activity for the last two years. Experts close to the real estate industry feel that this kind of development will go a long way towards creating the platform for India’s real estate recovery, and at the same time create more opportunities for developers to involve themselves in the right markets with right and affordable housing projects.

As per the NHB’s ‘RESIDEX’ the maximum increase was observed in the city of Pune (3.9 per cent) this was followed by Coimbatore in South India (3.5 per cent), Indore in the central part of India with (3.3 per cent), Guwahati in the East India (3.2 per cent), Patna (2.7 per cent) and Kolkata (2.4 per cent).