Property prices in Hyderabad remained stable in March 2012 - says Makaan.com Property Index

Makaan.com Property Index – City level

• Monthly Trend: The property prices in Hyderabad have remained stable in the last one month. The Index in March 2012 stands at 1002 as against 1012 in February 2012.

• Quarter Analysis: Over the quarter, the MPI has seen a drop of 2.5% - it has moved from 1028 in December 2011 to 1002 in March 2012. This indicates a slight decline in property prices.

• Year-on-Year Movement: As compared to last year, the Hyderabad Property Index in March 2012 has dropped by 14.3%. Prices have been dipping steadily, with minor highs and lows over the last 3 quarters. The MPI figures have moved from 1169 in March 2011 to 1002 in March 2012.

• City Level: In the last one month most cities have seen stable property prices. Property prices in key markets - Delhi, Kolkata, Chennai, Ahmedabad, Hyderabad and Pune have remained stable. Only Mumbai and Bangalore registered a slight appreciation.

• 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.