Property Prices in Kolkata remain stable in January 2013 - Says Makaan.com Property Index

Makaan.com Property Index – City level

Monthly Trend: The property prices in Kolkata remain stable in the last one month. The Index in January 2012 stands at 1449 as against 1476 in December 2012; there is minor a drop of 1.8% .

Quarter Analysis: Over the last quarter, the MPI remained stable with a minor drop of 0.8%; it has moved from 1461 in October 2012 to 1449 in January 2013.

Year-on-Year Movement: As compared to last year, the Kolkata Property Index in January 2013 saw a dip of 3.2%. This indicates a stability in price, with minor highs and lows over the last year. The MPI figures moved from 1404 in January 2012 to 1449 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.