Property prices rising in majority of Indian cities

Property prices in 12 of India’s 20 largest cities increased in the first three months of this year, new figures show.

Jaipur, Rajasthan

Jaipur, Rajasthan

The latest NHB Index shows that between January and March 2013, the price of residential properties in India’s 20 largest cities increased by an average of 1.1 per cent.

The largest increases were recorded in Jaipur (up by 28.74 per cent) followed by Bhubneshwar (14.54 per cent), Pune (7.81 per cent), Bhopal (6.49 per cent), Delhi (3.59 per cent), Bengaluru (2.83 per cent), Mumbai (2.31 per cent), Kochi (2.30 per cent) and Faridabad (0.98 per cent).

The largest fall in prices during this three-month period were observed in Guwahati (down by 7.84 per cent) followed by Ludhiana (-6.71 per cent) and Surat (-6.67 per cent).

In addition to the existing 20 cities covered by the Index, six new cities have now also been added. All six of these newly included cities experienced a significant price increases when compared to the base year of 2007. The highest price rise in the past six years was recorded Chandigarh (94 per cent) followed by Meerut (91 per cent), Coimbatore (84 per cent), Dehradun (83 per cent), Nagpur (63 per cent) and Raipur (56 per cent).