Housing prices in 12 cities rise, 10 witness decline in Q2

Maximum price moderation was seen in Meerut by 6.88 percent.

New Delhi: Housing prices increased in 12 cities by up to 5.30 percent, while it declined in 10 cities, including the national capital, by up to 7 percent during the second quarter ended September 30.

Housing prices in Delhi witnessed a decline of 4.53 percent during July-September period compared with the previous quarter. However, it jumped by 6.7 percent on annual basis, as per Residex released by National Housing Bank (NHB).

On annual basis, the prices in Delhi rose by 6.7 percent.

Maximum price moderation was seen in Meerut by 6.88 percent while, highest appreciation in rate was witnessed in Kolkata by 5.30 percent.

The movement in prices of residential properties for the July-September quarter has shown increasing trend in 12 cities ranging from 0.46 percent in Mumbai to 5.30 percent in Kolkata, and fall in 10 cities ranging from 0.93 percent in Bengaluru to 6.88 percent in Meerut, NHB said in a statement.

Index for 4 cities namely Pune, Kochi, Coimbatore and Dehradun has remained stagnant, it said.

Housing prices in Chennai rose by 4.95 percent, Hyderabad 4.77 percent, Ahmedabad 2.69 percent, Lucknow 2.14 percent, and Patna 2.04 percent.

However, prices in Ludhiana moderated by 4.46 percent, Vijayawada 4.03 percent, Nagpur 3.58 percent, Bhopal 3.09 percent, Indore 2.18 percent, Jaipur 1.82 percent, Bhubneshwar 1.03 percent and Bengaluru 0.93 percent.

This latest NHB Residex for the quarter covers 26 cities, with base year as 2007.