Property prices in Ahmedabad remain stable in January 2013 - Says Makaan.com property Index

Makaan.com Property Index – City level

Monthly Trend: The property prices in Ahmedabad remain stable in the last one month. The Index in January 2013 stands at 1901 as against 1897 in December 2012

Quarter Analysis: Over the last quarter, the MPI has seen a drop of 1.5%. It has moved from 1930 in October 2012 to 1901 in January 2013.

Year-on-Year Movement: As compared to last year, the Ahmedabad Property Index in January 2013 has appreciated by 3.1%. The MPI figures moved from 1844 in January 2012 to 1907 in January 2013.

City Level: In the last one month most cities have seen an increase in property prices. Property prices in the key property markets: Mumbai, Bangalore, Chennai, Hyderabad and Pune registered an increase; while those in Delhi, Kolkata and Ahmedabad remained stable.

Going forward: Indian Real Estate market is going through a challenging phase with multiple macro economic headwinds like poor liquidity for developers, increased cost of construction, high land prices, delayed projects, high interest rates. These factors are keeping the home buyers away from the market. Over the coming months the property prices in India are likely to move in a narrow range with a slight negative bias.