In a recent report RBI said that during the first quarter of current fiscal year 2013-14, the average residential property prices slowly moved up by 0.89 per cent that is measly, thoughwhich isapproximately 14 per cent higher compared to thehousing prices of a year-ago.
Recently, RBI stated in Macroeconomic and Monetary Developments Second Quarter Review 2013-14 that the quarter-on-quarter growth at all-India level in the Reserve Bank house price index was lower by 0.89 per cent in the first quarter of fiscal year 2013-14 when related to the previous quarter, which was 2.46 per cent.
It also added that the price increase was observed in few cities, the highest being recorded in Lucknow where it increased by 4.66 per cent on quarter-on-quarter basis, followed by Ahmedabad with 4.47 per cent increase and Kochi, which observed 2.28 per cent rise on quarter-on-quarter (q-o-q) basis.
While talking about quarter-on-quarter growth at all-India level, RBI stated that in April-June period on year-on-year (y-o-y) basis the average price raised by 13.75 per cent.
The all-India level in the Reserve Bank house price index is the measured average of cities indices that is measured based on the population proportion taking the base year as 2010-11.
Considering the year-on-year basis, Kochi saw a price increase of 28.55 per cent and whereas Lucknow, which observed highest price on quarter-on-quarter basis followed Kochi and witnessed 27.56 percent increase on year-on-year basis.
The National Capital Regions (NCR) that include Delhi is reported to have observed an increase in housing prices by 21.15 per cent, whereas Mumbai recorded a rise of 8.38 per cent on year-on-year basis.
Visit Sovereign Developers Reviews blogs to read more articles on real estate industry.
Recently, RBI stated in Macroeconomic and Monetary Developments Second Quarter Review 2013-14 that the quarter-on-quarter growth at all-India level in the Reserve Bank house price index was lower by 0.89 per cent in the first quarter of fiscal year 2013-14 when related to the previous quarter, which was 2.46 per cent.
It also added that the price increase was observed in few cities, the highest being recorded in Lucknow where it increased by 4.66 per cent on quarter-on-quarter basis, followed by Ahmedabad with 4.47 per cent increase and Kochi, which observed 2.28 per cent rise on quarter-on-quarter (q-o-q) basis.
While talking about quarter-on-quarter growth at all-India level, RBI stated that in April-June period on year-on-year (y-o-y) basis the average price raised by 13.75 per cent.
The all-India level in the Reserve Bank house price index is the measured average of cities indices that is measured based on the population proportion taking the base year as 2010-11.
Considering the year-on-year basis, Kochi saw a price increase of 28.55 per cent and whereas Lucknow, which observed highest price on quarter-on-quarter basis followed Kochi and witnessed 27.56 percent increase on year-on-year basis.
The National Capital Regions (NCR) that include Delhi is reported to have observed an increase in housing prices by 21.15 per cent, whereas Mumbai recorded a rise of 8.38 per cent on year-on-year basis.
Visit Sovereign Developers Reviews blogs to read more articles on real estate industry.
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