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Mumbai top real estate destinations in terms of price escalation

March 2010

According to the latest property index released by real estate portal Makaan.com, the Mumbai real estate market beat all Indian cities in terms of price escalation over a period of 12 months. Mumbai has bucked the economic slowdown by witnessing a whopping 24.7 per cent jump in prices between January and December 2009. During the same period, realty rates in Delhi-NCR rose by 8.8 per cent.

But other emerging residential destinations such as Hyderabad and Bengaluru have witnessed a fall of 7.7 and 2.2 per cent, respectively, the index added. However, Pune market gained significantly by 9.9 per cent. The survey revealed that all these five cities - Delhi - NCR, Mumbai, Pune, Hyderabad and Bengaluru - witnessed a drop in property prices in the first six months - January to June - due to slump in the market. But the subsequent gain came following the launch of various affordable units. These units have now achieved premium value across India.

The study said property prices increased by another 12.8 per cent nation-wide during the surveyed period of 12 months.