Buying a House in Top 39 Indian Cities Gets Costlier

By Olga Robert
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    National Housing Bank's housing price index (NHB RESIDEX) shows that purchasing price of homes in top 39 Indian cities have gained in the January-March 2018 quarter, with Lucknow leading the growth at 9.4 percent.

    Buying a House in Top 39 Indian Cities Gets Costlier

    As per the index, change in under-construction properties in 50 Indian cities in March 2018 quarter :

    Particulars Year on Year (No. of cities) Quarter on quarter (No. of cities)
    Increase  39 34
    Decrease 10 8
    No change 1 8

    As per the index, change in under-construction properties in 47 Indian cities in December 2017 quarter:

    Particulars Year on Year (No. of cities) Quarter on quarter (No. of cities)
    Increase 32 22
    Decrease 10 3
    No change 5 22

    The results of the top 8 property markets of India in the March 2018 quarter:

    City Annual change in price Annual change in %
    Kolkata Increase 8.5
    Hyderabad Increase 5
    Mumbai Increase 3.8
    Delhi Increase 3.3
    Bengaluru Increase 2.3
    Ahmedabad Increase 2.2
    Chennai Increase 0.7
    Pune Decline -1.4

    Top 10 cities that experienced a decline in housing prices for March 2018 quarter:

    City % decline
    Patna 12.2
    Faridabad 7.1
    Vadodara 3.5
    Rajkot 1.8
    Bhopal 1.7
    Howrah 1.7
    Pune 1.4
    Vasai-Virar 0.9
    Meerut 0.8
    Nashik 0.8

    Tier II (out of the 29 covered) that experienced the maximum increase in indices in March 2018:

    City % increase
    Lucknow 9.4
    Indore 7.1
    Chandigarh 6.4

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