Property prices stable in 66% major localities
Property prices witnessed stability in the 66 per cent of the 750 major localities in the country during January-March 2018, compared to the corresponding period of 2017, a report said. The good news is that the National Price Index continues to move up for the third straight quarter.A cause of concern has been raised as the remaining 34 per cent (excluding 66% percent) have the property prices declining during the same period.
During the quarter ended March 2018, property prices declined in 34 per cent localities on a year-on-year basis, compared to the 56 per cent decline witnessed in January-March 2017 which indicates some amount of recovery in these areas of the sector. Region-wise, west India recovered the fastest with 60 per cent lesser localities witnessing price decline, followed by north India (31 per cent) and south India (25 per cent).