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India: House prices rise by up to 9.6pct despite high rates

Posted on 26 February 2013

Despite high interest rates, housing prices have risen in 18 out of 20 cities, says National Housing Bank (NHB). According to NHB’s RESIDEX, residential property prices in Delhi and Mumbai have seen the highest surge of 9.6% each during October-December period 2012 compared with the July-September quarter.
In the last one year, property prices in Delhi have risen by 16.8% as against 12.4% in Mumbai. While only two cities - Indore (-1%) and Faridabad (-5.1%) - have witnessed a fall in housing prices, residential property prices have gone up in eighteen cities, ranging from 0.6% in Chennai to 9.6% in Delhi and Mumbai………………………………………..Full Article: Source


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