Property prices in Pune have remained stable in February 2012 - says Makaan.com Property Index

Makaan.com Property Index – City level

• Monthly Trend: The property prices in Pune have remained stable in the last one month. The Pune Property Index in February 2012 stands at 1456 as against 1443 in January 2012.

• Quarter Analysis: Over the last 3 months, property prices in Pune have dropped. The MPI figure has seen drop of 2.2% - it has moved from 1489 in November 2011 to 1456 in February 2012

• Year-on-Year Movement: As compared to last year, the Pune Property Index in February 2012 has increased by 19.1%. This indicates a property price appreciation. The index has moved from 1222 in February 2011 to 1456 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.