Despite an economic slowdown, house prices recorded a rising
trend in April-June Quarter. National Housing Bank recently published a survey
indicating 17 out of 20 cities registered gain between 0.7% to 10.5% in house
prices between January-March 2012 and April-June 2012.
In Mumbai the index rose 3.68 % whereas Delhi and NCR
recorded the rise of 2.4% in the index followed by Chennai’s 1.6 %. Cities like
Jaipur,
Hyderabad and Indore reflected the decline in house prices.
The NHB Residex has been prepared for 20 cities and takes
into account the price trends for residential properties in different locations
and zones in each city, according to the classification devised for evaluation.
It also helps consumers in decision making by informing them the emerging trends
in the property market.
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