02:24
Real estate investors swear by the returns they have earned by investing in homes over the years. But things have started to change in the recent past. In the last one year you would have earned a better rate of return if you had invested in a fixed deposit. In fact, you might even have done better by letting your money sit idle in a savings bank account.
Representational image. ReutersRepresentational image. Reuters
The real estate research and rating firm Liases Foras in a new research note on the residential market for the period of three months ending 31 March, 2015, presents some interesting data. The firm tracks six cities (or areas)--Mumbai Metropolitan Region, National Capital Region, Chennai, Bangalore, Hyderabad and Pune.
As the report points out: “The average price of six cities remained stable from previous quarter.” So, on the whole property prices remained stable between December 2014 and March 2015. Prices in the Mumbai Metropolitan Region fell by 2.18 percent. Prices in Chennai, Hyderabad and National Capital Region remained flat. Prices in Bangalore and Pune went up by 1percent.
In fact, between April 2014 and March 2015, prices have risen by just 1 percent on an average across the six cities that Liases Foras tracks. In Hyderabad and Pune prices went up by 7 percent. In Chennai the rise was 5 percent. In Mumbai Metropolitan Region prices went by 1 percent. In Bangalore prices were flat. And in the National Capital Region they fell by 2 percent.
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