Residential property prices go up across 12 cities

Prices in Delhi rose by 3.59% while in Mumbai and Bangalore it rose by 2.31% and 2.83% respectively during Jan-Mar

The residential property prices in 12 cities across India have risen during the January-March period with the maximum appreciation seen in Jaipur and Bhubneshwar at 28.74% and 14.54% respectively.

The prices in Delhi rose by 3.59% while in Mumbai and Bangalore it rose by 2.31% and 2.83% respectively in the Jan-Mar period compared to October-December, 2012, according to the National Housing Bank (NHB) Residex released today.

However, 8 cities have shown decline in prices over the previous quarter with maximum drop in Guwahati at 7.84% followed by Ludhiana at 6.71% and Kolkata at 5.75%.

NHB Residex tracks the movement in prices of residential properties on a quarterly basis since 2007. The index for Delhi includes property transactions of Gurgaon, Noida, Greater Noida and Ghaziabad.

The Residex has been included to add six new cities including Chandigarh, Meerut and Coimbatore.

It covers a total of 26 cities now.