Housing prices drop by 4.5 pc in NCR

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

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

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

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

The movement in prices of residential properties for the July-September quarter has shown increasing trend in 12 cities ranging from 0.46 per cent in Mumbai to 5.30 per cent in Kolkata, and fall in 10 cities ranging from 0.93 per cent in Bengaluru to 6.88 per cent 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 per cent, Hyderabad 4.77 per cent, Ahmedabad 2.69 per cent, Lucknow 2.14 per cent, and Patna 2.04 per cent.

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

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

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