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If anyone has any doubt about Chennai being a boom city, theNational Housing Bank's Residex index which has been trackingthe movement of housing prices in different parts of the countrysince 2007 should dispel such a doubt. The index for the city leapt up by as much as 39.5 per cent for thelast quarter [January to March 2012] of 2011-12 as compared to thelast quarter of last year [January to March 2011]. This is thehighest jump for any city during this period. In Bengaluru, in contrast, the index for the same period has goneup by just 4.5 per cent, while in Hyderabad the growth has beeneven slower at 3.6 per cent. In Kochi, which is the only other city in south India to betracked, the growth has, in fact, been negative at a whopping minus16 per cent, the highest decline for any of the 15 cities, whichare being monitored across the country on a regular basis. As for the rest of the country, Delhi clocked a robust 32.5 percent growth, the second best after Chennai, followed by Pune [22.3per cent], Bhopal [22.15] per cent, Jaipur [19.4 per cent] andSurat [12.4 per cent]. Mumbai, on the contrary, registered a growth of 8.6 per cent andKolkatta had a slump, with the index registering a negative returnof minus 9.5 per cent. As for the other cities covered by the index, Lucknow recorded agrowth of 4.5 per cent, while Patna had a slump, registering anegative growth of minus 13.4 per cent. In Ahmedabad, the index hasfallen down but marginally at minus 0.6 per cent. Releasing the latest data for January-March 2012 quarter, theNational Housing Bank said from January 2012, NHB-Residex has beenfurther expanded to cover five more cities - Bhubaneshwar,Guwahati, Ludhiana, Vijayawada, and Indore, taking the total numberto 20. Interestingly all the five cities have shown a robust growth inprice over the past five years. In Indore, the prices have morethan doubled - from the base of 100 in 2007 to 208 duringJanuary-March 2012, while it has increased by 84 per cent inVijayawada, 63 per cent in Ludhiana, 61 per cent in Bhubaneswar and57 per cent in Guwahati. In contrast, only nine of the 15 cities, which were being regularlymonitored, even crossed the 50 per cent mark during the five yearperiod: Chennai [204 per cent], Faridabad, on the outskirts ofDelhi [117 per cent], Bhopal [104 per cent6], Kolkatta [91 percent], Mumbai [90 per cent], Pune [81 per cent], Delhi [68 percent] and Ahmedabad and Lucknow [64 per cent each]. Of the rest, two – Surat and Patna had a positive growth of44 per cent and 29 per cent respectively, four others –Bengaluru had a negative return of minus 8 per cent, Hyderabadminus 14 per cent, Jaipur minus 20 per cent, and Kochi minus 28 percent respectively. NHB launched the index in 2007 with a view to help bring greateruniformity and standardisation as well as greater transparency inthe valuation of properties across the industry. Data are collectedfrom different sources and classified, validated and applied to themodel designed to give the representative Index for each city. The Index is designed to help the general consumers and propertybuyers and borrowers in their decision-making by enablingcomparisons over time and across cities and localities based on theemerging trends. In addition, it could help provide insights into the propertymarket for the lending agencies in their credit evaluation andassessment of the value (present and potential) of the securityagainst the loan. Besides, it could help builders and developersassess the demand scenario in a city or its localities. I am an expert from bottle-fillingmachine.com, while we provides the quality product, such as Drinking Water Treatment Systems Manufacturer , China Beverage Mixer, Bottle Filling Machine,and more.
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