Hike in apartment price in second quarter of 2014
Posted on: 05/Nov/2014 4:05:06 PM
According to the residential price index given out by the National Housing Bank, considering the first and second quarters of this calendar year, there has been a considerable increase in the prices of residential apartments.
The recorded growth range is of 0.75% to 9.4%. From all the cities, Mylapore, Adyar, Thiruvanmiyur and Velachery recorded the lowest rise in price. The highest is recorded with Virugambakam, Anna Nagar, Nungambakkam and Kilpauk.
The increase in price of apartments ranges between 10 and 43 per cent annually. Between April and June of this year, a 10 per cent increase is recorded at Ayanavaram and Purasawalkam, whereas a 43% increase is registered with Mylapore, Adyar, Thiruvanmiyur and Velachery.
Furthermore, the reports also state that there is a dip in price in the micro markets in places including Egmore, Chetpet, T Nagar, Ashok Nagar and Saligramam. The slide ranges between 1.4 to 7.7 per cent in the first and second quarters of the current year.
