Property prices in Kolkata appreciated by 2.4% in February 2012 - says Makaan.com Property Index

Makaan.com Property Index – City level

• Monthly Trend: The property prices in Kolkata have appreciated by 2.4% in the last one month. The Index in February 2012 stands at 1438 as against 1404 in January 2012.

• Quarter Analysis: Over the last 3 months, the Kolkata market has remained stable. This is reflected in the MPI figures, it has remained at 1438 in November 2011 and February 2012.

• Year-on-Year Movement: As compared to last year, the property prices in Kolkata has appreciated by 36.6%. The MPI figure has moved from 1052 in February 2011 to 1438 in February 2012.

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