Housing prices: Mumbai,down,Delhi up

Prices of residential properties in Mumbai and Kolkata witnessed a downward movement while Delhi prices firmed up during the third quarter of the current fiscal,as per the latest Residex released by the National Housing Bank

Written by Press Trust Of India | Mumbai | Published:February 16, 2012 12:26 am

Prices of residential properties in Mumbai and Kolkata witnessed a downward movement while Delhi prices firmed up during the third quarter of the current fiscal,as per the latest Residex released by the National Housing Bank (NHB).

Prices of houses in Kolkata and Mumbai declined by 0.5 per cent in October-December period of 2011-12 compared to previous quarter. Among other cities,the maximum decline was observed in Kochi at 15.5 per cent followed by Hyderabad at 6 per cent,Jaipur 1.5 per cent and Patna 0.7 per cent.

NHB,which is the housing finance regulator,said,”The movement in prices of residential properties has shown an increasing trend in nine cities and decline in six cities covered under NHB Residex during the quarter October-December,2011 in comparison to the previous quarter.” Property prices in Lucknow during quarter rose by 7.1 per cent and Faridabad 5.8 per cent.

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