HOUSING PRICE APPRECIATION SLOWS IN 2012
Price appreciation in the housing segment slowed significantly during 2012 in the top seven Cities of the Country with average capital value rising by only 1-3 percent, Property Consultant Jones Lang LaSalle (JLL) India.
In its review of the realty sector during the current calendar year, JLL India Chairman and Country head Anuj Puri, according to him, 2012 was a sluggish year in terms of economic growth, largely because of high interest rates and poor industrial production. Inflation remained high, impacting sentiments and Investor interest across business-including real estate.
According to JLL a total of 1, 60, 662 residential units were launched in 2012 in the seven top Cities of the Country compared with 1, 54,701 units for the corresponding period of 2011.
From the pricing perspective, the average residential capital values in 2012 appreciated in the range of 1-3 percent year-on-year basis.
Among the top seven Cities, the capital value growth in Pune and NCR Delhi was the highest, while Hyderabad and Bangalore saw a lower rate of capital value growth.