Crisil Report Predicts Stability in Property Rates

Published: April 10, 2010

A Crisil research report on residential property prices of India’s 10 biggest cities says prices will remain more or less stable with a moderate dip in prices in Mumbai and a marginal (2 per cent) rise in the National Capital Region (NCR) in 2010.

According to the report, the average capital appreciation in the 10 cities is expected to be 2-3 per cent. Bangalore and Chennai are expected to see the highest rises of 7.3 per cent and 5 per cent respectively. On the other hand, Ahmedabad and Mumbai will see a correction in prices by 1.8 per cent and 0.4 per cent respectively.

Interestingly, Mumbai witnessed the maximum rise in prices by 11 per cent between March and November last year, the report said. While Central Mumbai witnessed a price rise of 21 per cent, the central suburb saw 15 per cent hike.

“Mumbai has already witnessed a steep recovery in prices after the correction in 2008 and the demand has slowed down since December 2009,” said Sudhir Nair, head, Crisil Research.

Source:Indian Realty News

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2 Comments so far

  1. JANHAVI January 21, 2011 1:10 pm

    please get in touch at 09662084548

  2. sumeet May 19, 2011 12:06 pm

    i have recently bought a houcs in my locality in ahmedabad for investment purpose. i had an idea that i will sell it by the time its ready (which would be a period of 1.5 years) and generate some profit. bt nw i am confused, and scared of the expected correction in rates. shuld i sell it quicker than i anticipated ??

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