Property prices in Kolkata increase by 4.4% in January 2011 - says Makaan.com Property Index

Makaan.com Property Index – City level

• Monthly Trend: The property prices in Kolkata have increased by 4.4% in the last one month. The Index in January 2011 stands at 1140 as against 1092 in December 2010.

• Quarter Analysis: Over the last 3 months, the Properties in Kolkata MPI has seen a drop - it has moved from 1220 in October 2010 to 1140 in January 2011, 6.6% drop.

• Year-on-Year Movement: As compared to last year, the Kolkata Property Index in January 2011 has increased by 11.4%. Prices had dropped significantly in the fourth quarter of 2010 due to the economic slowdown. From thereon, the prices have been rising steadily, with minor highs and lows over the last 3 quarters.

• City Level: Over the last 1 year,i.e. between January 2010 to January 2011, most cities have seen significant increase in property prices. Cities like Ahmedabad, Delhi, Mumbai, Pune, Hyderabad and Kolkata saw property prices rise in the range of 3.9% to whopping 56.6%. On the other hand cities like Bangalore and Chennai saw prices drop by 5.8% and 8.2% respectively.

• Going forward: The signals from the Indian Economy are quite positive - Industrial output, Exports and the GDP are rising, and jobs are more secure than before.At the same time interest rates are likely to go up, which may make buyers cautious in their purchase decisions.In the current situation one would expect the realty sector to maintain stability of prices.