Property rates down in metros, except Delhi

By Accommodation Times (
As per the fresh market reports disclosed that Metros are witnessing slowdown in realty prices specially Mumbai and Kolkata has faced the worst time, on the contrary to this Delhi prices firmed up during the Q3 of the current financial year, as per the latest Residex released by the National Housing Bank (NHB).
Reports said that, residential property rates down by 0.5% in Mumbai as well as Kolkata in the Q4 in the fiscal year 2011-12. Whereas, there are several cities has also been affected by the slowdown such as Kochi has witnessed of 15.5percent which is the highest most in the realty market followed by Hyderabad with 6percent, Jaipur 1.5 per cent and Patna 0.7 per cent.
Contrary to this in Delhi not only residential property demand increasing similarly demand for commercial properties is rising gradually in central and secondary business districts (CBD & SBD) comparatively the upcoming projects in the peripheries of Delhi. Due to the lack of supply in CBD & SBD localities have massive demand for commercial properties going upward.
NHB Residex during the quarter October-December, 2011 in comparison to the previous quarter.” Property prices in Lucknow during quarter rose by 7.1 per cent and Faridabad 5.8 per cent.

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