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

Makaan.com Property Index – City level

Monthly Trend: The property prices in Delhi/NCR remain stable from last month. The Index in January 2013 stands at 1515 as against 1493 in December 2012.

Quarter Analysis: MPI for Delhi has seen a high drop of 3.6% over the last quarter; it has dropped from 1572 in October 2012 to 1515 in January 2013.

Year-on-Year Movement: As compared to MPI figures in the last year, the Delhi/NCR Property Index in January 2013 fell by 2.2%. Prices have been varying with minor highs and lows over the last one year. The MPI figure moved has from 1549 in January 2012 to 1515 in January 2012.

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: Property in Delhi 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.