NATIONAL HOUSING BANK

New Delhi
June 04, 2014
Press Release
NHB RESIDEX RESIDENTIAL HOUSING PRICE INDEX
Quarterly Update January-March, 2014 (26 cities)

NHB RESIDEX was launched in July 2007 and it tracks the movement in prices of
residential properties on a quarterly basis.
From the quarter January-March, 2013 NHB RESIDEX has been expanded to include
6 new cities namely Chandigarh, Coimbatore, Dehradun, Meerut, Nagpur and
Raipur. The NHB RESIDEX now covers 26 cities.
This latest NHB RESIDEX for the quarter January-March, 2014 covers 26 cities, with
base year as 2007. The Residex for the quarter January-March, 2014 constructed for
26 cities has taken into account the price trends for residential properties in different
locations and zones in each city and is based upon the transaction data received
from Central Registry of Securitisation Asset Reconstruction and Security Interest of
India (CERSAI). The data based on actual transactions are put through a Model that
depicts the trend in the market. The Residex is expected to bring greater uniformity
and standardisation as well as greater transparency in the valuation of properties
across the industry.
Price Movement for the quarter January-March, 2014 (26 Cities)
The movement in prices of residential properties for the quarter January-March, 2014
has shown increasing trend in twelve (12) cities ranging from 1.3% in Bhopal to 7.1%
in Surat, and fall in twelve (12) cities ranging from -0.6% in Vijayawada to -5.7% in
Patna in comparison to the previous quarter October-December, 2013. Indices for 2
cities namely Faridabad and Kochi have remained stagnant.
Rising Trend: Residential housing prices in 12 cities have shown increase in prices
in this quarter ended March, 2014 (January-March, 2014) over the previous quarter
ended December, 2013 (October-December, 2013). Maximum increase was observed
in Surat (7.1%) followed by Ahmedabad (6.1%), Chennai (5.8%), Kolkata (5.1%),

Lucknow (4.9%), Raipur (4.4%), Mumbai (3.2%), Nagpur (2.9%), Dehradun (2.7%),
Hyderabad (2.2%), Delhi (1.5%) and Bhopal (1.3%).
Declining Trend: 12 cities have shown decline in prices over the previous quarter
with maximum fall observed in Patna (-5.7%) followed by Jaipur (-3.8%), Guwahati
(-3.75%), Bengaluru (-3.6%), Meerut (-3.5%), Bhubaneshwar (-3.47%), Ludhiana (3.3%), Chandigarh (-2.7%), Coimbatore (-1.7%), Indore (-1.6%), Pune(-1.3%) and
Vijayawada (-0.6%).
Indices for 2 cities namely Faridabad and Kochi have remained stagnant.
CITY WISE HOUSING PRICE INDEX FOR THE QUARTER JANUARY-MARCH, 2014

CITIES

Hyderabad
Faridabad
Patna
Ahmedabad
Chennai
Jaipur
Lucknow
Pune
Surat
Kochi
Bhopal
Kolkata
Mumbai
Bengaluru
Delhi
Bhubaneshwar
Guwahati
Ludhiana
Vijayawada
Indore

Chandigarh
Coimbatore
Dehradun
Meerut
Nagpur
Raipur

2007
Index

100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100

JanMar
2012
Index

AprJun
2012
Index

JulSep
2012
Index

86
217
129
164
304
80
164
181
144
72
204
191
190
92
168
161
157
163
184
208

85
217
140
174
309
78
171
200
145
73
207
196
197
100
172
164
159
171
186
203

84
216
138
180
312
85
175
201
138
80
206
191
198
98
178
168
158
168
181
196

OctDec
2012
Index

90
205
151
191
314
87
189
205
150
87
216
209
217
106
195
172
166
179
185
194

JanMar
2013
Index

88
207
152
192
310
112
183
221
140
89
230
197
222
109
202
197
153
167
184
195
194
184
183
191
163
156

AprJun
2013
Index

84
202
147
186
303
110
187
219
142
86
227
189
221
108
199
195
147
157
174
184
191
178
184
189
168
155

JulySep
2013
Index

88
204
150
191
318
108
191
219
145
86
220
199
222
107
190
193
149
150
167
180
192
178
184
176
162
157

OctDec
2013
Index

93
209
159
197
330
105
185
235
154
85
223
196
222
111
196
202
160
150
161
184
188
173
186
171
175
159

JanMarch
2014
Index

95
209
150
209
349
101
194
232
165
85
226
206
229
107
199
195
154
145
160
181
183
170
191
165
180
166