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Rediff.com  » Business » Housing prices zoom in these cities

Housing prices zoom in these cities

Last updated on: April 26, 2013 07:54 IST

Image: People ride their bicycles under overhead power cables, against the backdrop of multi-storey residential apartments in Gurgaon.
Photographs: Ahmad Masood/Reuters.

Housing prices have risen the most in the Delhi-NCR market during January-March quarter at an average 20 per cent among the seven major cities of the country, according to a report by property portal 99acres.com.

"Among the top 7 cities of India, the capital value growth in Delhi-NCR topped the charts with an increase of 20 per cent in Q1-13 over Q1-12," the company said in a statement.

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Tags: NCR , Q1-13 , Q1-12 , ZOOM , India

A woman labourer walks past a residential estate under construction in Kolkata.

Image: A woman labourer walks past a residential estate under construction in Kolkata.

Kolkata has witnessed an increase of 17 per cent in the housing prices.

Commenting on the report, 99acres.com Business Head Vineet Singh said: "While in Delhi, the prices are averaging or growing slowly, the NCR area is witnessing price appreciation owing to increased movement of people preferring improved connectivity and affordable housing".

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Housing prices zoom in these cities

Image: A woman labourer works at a road construction site on the outskirts of Hyderabad.
Photographs: Krishnendu Halder/Reuters.

While Mumbai, Bangalore, Pune and Hyderabad saw price appreciation in the range of 12-15 per cent in Q1-13 when compared to Q1-12. Housing prices have increased by six per cent during the period under review.

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Housing prices zoom in these cities

Image: A water tanker moves past Malibu Towne residential apartments in Gurgaon.
Photographs: Parivartan Sharma/Reuters.

Gurgaon's Sector 112 saw the maximum appreciation in property prices at 72 per cent in the entire Delhi-NCR market.

In Delhi, the localities to see highest appreciation in price trends were Vasundra Enclave and Sector-13 Dwarka with around 28 per cent and 25 per cent, respectively, in January-March quarter as compared to year-ago period.

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Housing prices zoom in these cities

Image: Labourers work at the construction site of a residential complex on the outskirts of New Delhi.
Photographs: Adnan Abidi/Reuters.

However, a few localities in South Delhi like Saket, Vasant Vihar and Greater Kailash saw a price correction of 6-8 per cent.

In Noida, Sector-104 saw a price rise of over 40 per cent in the last one year. Most of the other localities also saw double digit growth in prices. "Increased connectivity has led to significant price increases in this region," the report said.


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