Home prices fall in Delhi, Bangalore; rise in Kolkata and Mumbai

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

Housing prices in Delhi witnessed a decline of 4.53 percent during July-September period compared with the previousquarter. 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 percent.

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

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

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

Housing prices in Chennai rose by 4.95 percent, Hyderabad4.77 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 3.09percent, 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.

PTI