Property prices in Pune remained stable in March 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 Index in March 2012 stands at 1467 as against 1456 in February 2012.

• Quarter Analysis: Over the quarter, MPI figures have remained stable - it has moved from 1490 in December 2011 to 1467 in March 2012, a meager dip of 1.5%.

• Year-on-Year Movement: As compared to last year, Pune Property Index in March 2012 has increased by 19%. Prices have been rising steadily, with minor highs and lows over the last year. The MPI figures have moved from 1233 in March 2011 to 1467 in March 2012.

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