PROPERTY ALERT

After an all-pervading real estate lull over the last nine months, the Reserve Bank of India’s Residex figures indicates just a 6.1% rise in property prices in the October-December quarter over the June-September quarter last year, for the entire city. The latest Residex figures released by the National Housing Bank (NHB) shows that prices of residential properties in 18 cities have gone up by 0.6 per cent in Chennai to 9.6 per cent in Delhi and Mumbai. There is also a fall in only two cities, Indore (-1.0%) and Faridabad (-5.1%) during the quarter October-December 2012 in comparison to the previous quarter, June-September.