Your dream home seems to be getting more and more out of reach. Housing prices in 18 major cities have moved up by upto 9.6 % during October-December 2012 as compared to the previous quarter owing to higher input cost and limited fresh supply.
Both Mumbai and Delhi saw the maximum increase in prices at 9.6 % each. Out of the 20 cities tracked by National Housing Bank’s index called 'RESIDEX', only Faridabad and Indore show a drop in housing prices.
The movement in prices has ranged from 0.6 % in Chennai to 9.6 % in Delhi and Mumbai. Prices have shot up by 9.4 % each in Kolkata and Patna, followed by Kochi (8.8%), Surat (8.7 per cent), Bengaluru (8.2 %) and Lucknow (8 %).
New launches in these cities are quite limited and there is a high demand for the existing inventory. Consequently, builders are unlikely to cut prices in the near future as well.