The most crucial real estate variable that determines the supply and demand, along with the general health of the economy and realty market is Price. It is invariably the most studied factor that is responsible for leading your real estate investment decisions in the best light. The list below pegs cosmopolitan cities that best reflect a ‘one price trend’, a holistic index that gauges price movements of localities across regions in each city – so you know which part of the country you should look for your dream home and plan your real estate investments early on!
1) Mumbai
In the quarter of January – March 2016, 38% real estate in Mumbai saw an average price increase of 3%, wherein Navi Mumbai, 57% localities enjoyed an average price increase of 2% – keeping it a popular spot for big-buck investments.
2) New Delhi
Two third of the localities in New Delhi had witnessed more than 5% price increase in October – December 2015, which propelled a net increment of 2% for January-March this year.The quarterly property price movement data reiterates that prices across seven out of nine budget segments existing in Delhi improved from the last quarter, making ‘Investing’ even a juicier notion.
3) Ahmedabad
The city of Ahmedabad learnt that two third of the localities in October – December 2015, with an average price increase of 4%, pushed the Index value by 3% in January – March 2016. This lead to a 2% increment over the previous quarter after remaining stable for a few years, thus improving real estate frequency of purchases in the neighborhood.
4) Bengaluru
The City Index saw a 2% increment over the previous quarter as more localities reveled in the price increment as compared to last quarter. In the quarter of January- March 2016,63% localities displayed an average price increment of 3.1%. The price trend was clearly mirrored across all zones of the garden city making every nook of Bengaluru equally attractive.
5) Chennai
49% localities in Chennai have stated an average price increase of 2.8%, pushing the value of last quarter by 1% in January – March 2016. In the coming years, owing to booming businesses, the city is poised to see a remarkable growth rate in residential sales.