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 Jul-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 very 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 ten 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
The Latest Issue carries the top 10 preferred cities by demand for lease and sale at the city and locality level. And also incorporates industry experts’ views on the prospects of each city.
Some of the Key Findings at the National Level:
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 5Lac live listings with 6000+ fresh listings posted daily.
• Over 1.5Lac users on MagicBricks.com daily doing over 1cr 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