The Indian real estate seems to be a survivor, as indicated in the health reports of most industry analysts and online portals.
However dismal the international trends may seem, the Indian real estate market in 2012 grew despite decreasing GDP rates and dampening economic conditions, says ‘Property price trends across metros’, a real estate analysis by the online portal 99acres.com.
The report is a comparative study of markets across six cities: Delhi-NCR, Mumbai, Bangalore, Chennai, Kolkata and Pune. But in spite of the upward trend in growth, the report notes the cautious approach of the buyers because of rising home loan rates and domestic inflationary pressures.
“Among the top seven cities, the capital value growth in Delhi-NCR and Chennai was the highest with prices increasing by 20 and 18 per cent respectively in Q4-12 over Q4-11. The other metros have also witnessed double digit percentage growth in property prices with Mumbai, Pune, Bangalore and Kolkata witnessing appreciation in the range of 13 to 15 per cent. Rental values across these cities (3-BHK flats) have also gone up in the range of seven to nine per cent,” the analysis
Property prices in the Bangalore region moved up by approximately 12 per cent in the last one year.
This makes the place a good investor market as prices in the city have been moving at a steady rate year on year.
In Bangalore East, Whitefield saw the maximum price growth of 15 per cent in the last one year while Old Madras Road and Sarjapur Road saw a 11 per cent rise.
In the North, Hebbal saw the highest price increase of 42 per cent in Q4-12 while Hennur Road got about 26 per cent increase.
The South had HSR Layout, J.P. Nagar and Uttarahalli seeing less than 10 per cent growth in the last one year, and all other areas saw rates appreciate in the range of 11 to 15 per cent.