Delhi residential property prices dipped 1.5% in Jan-March 2014

New Delhi: The burgeoning price of housing might have kept buyers in Delhi at a bay, however, the
National Housing Bank's property price index tells a different story.

As per a newspaper report, Delhi's residential property prices posted a decline of 1.5 percent during January and March 2014 as compared to the same period last year.

Quoting the National Housing Bank's residential property price index, the paper also reported that housing prices in II-tier cities registered sharpest decline. Meerut, which is close to the NCR vicinity, recorded 13.6 decline in prices.

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), an NHB release said.

Maximum increase was observed in Surat (7.1 percent) followed by Ahmedabad (6.1 percent), Chennai (5.8 percent), Kolkata (5.1 percent), Lucknow (4.9 percent), Raipur (4.4 percent), Mumbai (3.2 percent), Nagpur (2.9 percent), Dehradun (2.7 percent), Hyderabad (2.2 percent), Delhi (1.5 percent) and Bhopal (1.3 percent).

Source: http://zeenews.india.com/business/realestate/latest-news/delhi-residential-property-prices-dipped-1-5-in-jan-march-2014_104717.html