The National Property Index up by 3 Per Cent in the Oct-Dec 2012 Quarter: MagicBricks PropIndex
NEW DELHI, March 28, 2013 /PRNewswire/ --
MagicBricks.com's PropIndex is Now Also Available Online for Free
The seventh edition of PropIndex, the research publication by MagicBricks.com, highlighted that despite weak buyer sentiments, the National Property Index (NPI) went up by over 3 per cent in the Oct-Dec 2012 quarter as compared to the July-Sept 2012 quarter. Of the 11 cities in the apartment index, majority witnessed a marginal rise with a few exceptions.
The latest PropIndex comes at a time when the real estate markets across the country have stabilized and the home loan interest rates are finally coming down, thanks to some welcome measures by the Reserve Bank of India. The PropIndex tracks the demand and supply of properties across 11 major cities of India.
The Oct-Dec 2012 quarter shows that Ghaziabad, Mumbai, Hyderabad, Pune, Delhi, Kolkata, Chennai, Gurgaon and Noida witnessed a rise in the city index values. Ahmedabad registered stable values and Bangalore saw a marginal drop of two per cent in the city index value.
The Evolution of MagicBricks.com's PropIndex - Each edition of the PropIndex has a new element.
The First and Second Issues contained the basic 11 City Index, Listed Price Monitor, Rent Monitor and Yield Meter.
In addition to the above, the Third Issue added Demand Analysis on consumer demand, top 10 preferred localities and extended the average property value list from 260 to 620+.
The Fourth Issue added industry expert advice on city prospects and supply data with respect to budget, property type and BHK configuration.
The Fifth Issue introduced demand and supply analysis with respect to budget, property type and BHK configuration both at city and suburb/zone level.
The Sixth Issue included the most significant realty news with impact potential and the quarterly comparison of demand and supply analytics.
Some of the Key Findings at the National Level:
- Multi-storey apartments remained the most preferred property type across the country. Six out of 11 cities witnessed over 65 per cent demand for multi-storey apartments.
- Residential property worth Rs 30-50 lakh registered maximum consumer demand of 24 per cent.
- Affordable properties, in the price bracket of up to Rs 20 lakh, witnessed second highest demand at 16 per cent.
- 2BHK remained the preferred BHK category across India, except in Mumbai and Gurgaon where 1BHK and 3BHK were respectively preferred.
- Cities such as Ahmedabad, Hyderabad and Bangalore received greater demand for premium properties as compared to Delhi and Mumbai. This was due to a significant difference in capital values.
Additional citywise and locality level details are now available for free access. Simply log in to http://property.magicbricks.com/microsite/buy/propindex/index.html and read the PropIndex anytime, anywhere.
Grab your copy today!
About the MagicBricks.com PropIndex:
"PropIndex" is an apartment index that tracks the property market performance of 11 cities across the country. Based on a bedrock of immense data, this Index, pioneered by India's biggest property portal, MagicBricks.com, it offers a rounded perspective of trends in prices, rentals, supply of apartments in all these markets.
The index & detailed report processed from the largest base of "live" data:
• Over 5 lakh live listings with 6000+ fresh listings posted daily.
• Over 1.5 lakh users on MagicBricks.com daily doing over 1 crore searches per month.
• Listings covering over 10000+ localities in 300+ cities.
The Index also features:
• "Smart" algorithm & statistical tools to handle large data volumes.
• Expert comments from top builders and brokers.
• Original content sourced from in-house research and from multiple "advice" platforms available on Magicbricks.com.
Each city report covers all the important metrics of -
National Property Index (NPI): A weighted average of 11 different city indices (CPI)
City Property Index (CPI): This has been derived as a function of supply of properties weighted against the average capital value appreciation/drop in various localities of the city.
Price Monitor: Reflects the capital appreciation/drop within various localities of a city.
Rent Monitor: Reflects the rental appreciation/drop within various localities of a city.
Yield Meter: This is the annual rate of return earned on a property.
Capital Value Tables: Indicates the capital prices for property prevailing in various localities of a city
Primary Media Contact: Aseem Seth TBSL, firstname.lastname@example.org, 91-9910273367
SOURCE Times Internet Limited