NHB RESIDEX. Quarterly Update April - June, Housing Price Indices (HPI)

Transcription

1 NHB RESIEX Quterly Update April - ne, 2017 Housing Price Indices (HPI) HPI@Assessment Prices HPI@ket Prices for under-construction Properties

2 NHB RESIEX TECHNICAL AVISORY COITTEE EBERS Government of India 1. inistry of Finance Shri Arun Kum, Adviser, Economic ivision, eptment of Economic Affairs 2. inistry of Housing & Urban Affairs - Shri S.K Valiathan, eputy Srety. inistry of Statistics & Programme Implementation - Shri Sunil Jain, eputy irtor General, Price Statistics ivision, Central Statistics Office. inistry of Statistics & Programme Implementation - Shri Vivek Srivastava, eputy irtor, National Accounts ivision, Central Statistics Office Reserve Bank of India. r. Anil Kum Shma, Adviser, eptment of Statistics and Information anagement (SI) Experts Smt. Balbir Kaur, Ex-Adviser, eptment of Economic and Policy Resech, Reserve Bank of India r. Bimal Roy, Professor, Indian Statistical Institute, Kolkata r. eepayan Sk, Professor, Indian Statistical Institute, New elhi r. Neeraj Hatek, Professor, eptment of Economics, umbai University National Housing Bank 10. Shri Sriram Kalyanaman, anaging irtor & Chief Exutive Officer 11. r. A.K. Tripathi, Exutive irtor 12. Shri V. Rajan, General anager Financial Institutions 1. Shri.G. Vaijinath, Chief General anager, REHBU, State Bank of India 1. Shri Sanjay Joshi, General anager, HFC Limited Industry Institutions 1. Brig. (Retd.) R.R. Singh, irtor General, NARECO, Industry Association NHB RESIEX TEA s. Vsha Jain, Assistant anager ( vsha.jain@nhb.org.in) SUPPORT AGENCY Liases Foras Real Estate Rating & Resech Private Limited Shri Pankaj Kapoor, Founder & anaging irtor ( pankaj@liasesfores.com) For more details visit us on ISCLAIER National Housing Bank ( NHB ), a wholly owned by the Reserve Bank of India, which has been established under the National Housing Bank Act, 17, has made its best effort to collt/collate the data/information from vious Banks, HFCs for providing a cluster of housing related indices under NHB RESIEX. The views and opinions expressed in the NHB RESIEX e those of NHB and do not nessily reflt its official policy or position of any other agency, organization, employer, or company. Assumptions made in the analysis e not refltive of the position of NHB or any other entity. These views e subjt to change, revision, rethinking at any time and NHB do not hold them in perpetuity. The primy purpose of the NHB RESIEX is to educate and inform and do not constitute either professional or investment advice or any service. NHB assumes no responsibility or liability for any omissions or any errors in the content of the NHB RESIEX. The information contained is provided on an AS-IS basis with no guantee of completeness, accuracy, usefulness or timeliness and without any wranties of any kind whatsoever, express or implied. NHB does not wrant any information or material printed in NHB RESIEX. NHB assumes NO RESPONSIBILITY OR LIABILITY FOR INCIENTAL OR CONSEQUENTIAL AAGES and assumes no responsibility or liability, for any loss or damage suffered by any person as a result of the use, misuse or reliance of any of the information or content in NHB RESIEX/this website. NHB RESIEX and NHB RESIEX logo e registered trademks of NHB. No pt of this publication may be reproduced, stored in a retrieval system or transferred in any form or by any means, mhanical, eltronic, photo-copying, rording or otherwise without the prior written permission of the publisher.

3 NHB RESIEX at a glance- April to ne7 NHB RESIEX, India s first official housing price index (HPI), was launched in ly, 2007, to track the movement in prices of residential properties in selt cities on quterly basis, taking 2007 as the base ye. With a view to reflt the current macroonomic scenio, NHB RESIEX has been revamped to include cluster of indices with updated base ye, revised methodology and automated processes. The revamped NHB RESIEX is also wider in its geographic coverage and captures two housing price indices viz. HPI@ Assessment Prices for 0 cities and HPI@ ket Prices for under construction properties for 7 cities. HPI@ Assessment Prices is computed using lenders valuation data reived from Banks/Housing Finance Companies (HFCs), while HPI@ ket Prices for under construction properties is based on primy mket data for under-construction properties collted from developers, builders and brokers. Brief on housing price indices for Phase 1 is as given below: Indices ata Sources Cities HPI@Assessment Prices Lenders valuation data Banks/HFC 0 HPI@ket Prices for under construction properties Primy mket data for underconstruction projts ket Surveys 7 The cities covered in phase 1 e spread across India in 21 States/Union Territories (UTs). Among 0 cities covered under HPI@ Assessment Prices, 18 cities e state capitals and 7 e pt of the smt city list released by Government of India. ue to paucity of data, HPI@ ket Prices for under-construction properties e not available for Rajkot, Ranchi and Vishakhapatnam. The housing price indices have been computed on a quterly basis stting from the quter April to ne, 201, and updated up to quter April to ne, 2017, taking FY 2012 as the base ye. The housing prices e classified on the basis of cpet ea size at city level (INR/sq. ft.) for units under three product category levels namely <= sq.mt, > &<= sq.mt, and > sq.mt. The indices e computed using Laspeyres ethodology, followed by calculation of a Four Quter Weighted oving Average with application of dynamic weights at product category level and static base ye weights on the Weighted oving Average product category level prices, across all the quters stting from the base ye. 1.1 HPI@Assessment Prices HPI rorded an overall increase in cities, drease in 1 cities and no change in 1 city on Y-o-Y basis (i.e., April to ne, 2017 comped to April to ne, 201) and increase in 1 cities, drease in 2 cities and no change in 10 cities on Q-o-Q basis (i.e., April to ne, 2017 comped to Januy to ch, 2017). Annual growth in HPI ranged from 1.7% in Vizag to (-) 10.% in Bhiwadi at the end of the quter, whereas, the quterly growth in HPI ranged from.% in Vizag to (-).0% in Bhiwadi. All the eight Tier 1 cities namely Ahmedabad, Bengaluru, Chennai, elhi, Hyderabad, Kolkata, umbai and Pune; witnessed a rise in indices on Y-o-Y basis with elhi exhibiting a substantial 8.1% rise followed by Chennai (7.%) and Pune (.0%). On Q-o-Q basis, Ahmedabad, elhi and Pune saw no change while Kolkata (-.%), Bengaluru (-2.2%), Chennai (-0.8%) and Hyderabad (-0.8%) saw a fall in indices. umbai saw a moderate rise at 0.7%. 1

4 ovement of Assessment Prices over 17 quters for Tier 1 cities is as below: Figure: HPI@Assessment Prices for Tier 1 cities (Base Ye FY 20 = ) HPI@Assessment Prices for Tier - 1 ci es Quter Ending Base Ye Hyderabad Ahmedabad Kolkata Bengaluru umbai Chennai Pune elhi Of the 29 Tier-2 cities being covered, significant rise in indices was seen in Vizag (1.7%) and Kochi (12.8%), while significant fall in indices was seen in Coimbatore (-.%), Ranchi (-.9%) and Chandigh (-.9%), on Y-o-Y basis. On the other hand, on Q-o-Q basis, Vizag (.%) and Kochi (.7%) witnessed maximum increase while Jaipur (-.2%) and Thiruvananthapuram (.%) witnessed maximum drease. The graph below show the movement of HPI@ Assessment Prices over 17 quters for Tier 2 cities classified as per geographic location. Figure: HPI@Assessment Prices for Tier 2 cities classified as per geographic location (Base Ye FY 20 = ) HPI@Assessment Prices for Tier 2 ci es- Central & East Zone p n 1 HPI@Assessment Prices for Tier 2 ci es- North Zone Quter Ending Base Ye Ghaziabad Ludhiana Chandigh (Tricity) Gurugram eerut 2 ehradun Kanpur Noida Fidabad Lucknow Quter Ending Base Ye Indore Bhubanesw Patna Bhopal Raipur Guwaha Ranchi

5 Prices for Tier - 2 ci es- West Zone HPI@Assessment Prices for Tier 2 ci es- South Zone Quter Ending Quter Ending Base Ye Kochi Vijayawada Coimbatore Thiruvananthapuram Vizag Base Ye Jaipur Nagpur Nashik Rajkot Surat Vadoda Vasai Vir Among the 1 Tier- cities, on Y-o-Y basis, Howrah (10.2%) and Pimpri Chinchwad (.9%) showed maximum increase in indices while Bhiwadi (0.%) showed maximum drease. On Q-o-Q basis, Pimpri Chinchwad (.7%) rorded the maximum increase while Bhiwadi (-.0%) rorded maximum drease. ovement of HPI@ Assessment Prices over 17 quters for Tier cities is as below: Figure: HPI@Assessment Prices for Tier cities (Base Ye FY 20 = ) HPI@Assessment Prices for Tier - ci es 1 17 n n n Quter Ending Base Ye Gandhinag Greater Noida Kalyan ombivali New Town Kolkata Thane Bidhan Nag (Excluding Rajhat) Bhiwadi Howrah ira Bhayander Navi umbai Pimpri Chinchwad Chakan Panvel

6 1.2 Prices for under-construction properties HPI rorded an overall, increase in 2 cities, drease in 17 cities and no change in cities on Y-o-Y basis and increase in 27 cities, drease in 11 cities and no change in 9 cities on Q-o-Q basis. Annual growth in HPI ranged from 7.8% in Lucknow to (-) 9.0% in Chennai at the end of the quter, whereas, the quterly growth in HPI ranged from.8% in Lucknow to (-).% in Patna. All the eight Tier 1 cities showed a wide divergence on Y-o-Y basis with Chennai (-9.0%), Kolkata (-.1%) and elhi (-2.2%) witnessing dips and umbai (.8%), Ahmedabad (.%), Hyderabad (.7%) and Bengaluru (2.%) witnessing moderate growth, with Pune witnessing no change. On quterly basis, elhi saw no change, while Chennai (-2.2%), Pune (.%) and Kolkata (.1%) saw a fall in indices. umbai, Hyderabad, Ahmedabad and Bengaluru saw a moderate rise in the range of %. ovement of HPI@ ket Prices for under-construction properties over 17 quters for Tier 1 cities is as below: Figure: HPI@ket Prices for under construction properties for Tier 1 cities (Base Ye FY 20 = ) 17 7 p n n 1 p n HPI@ket Prices for underconstruc on Proper es for Tier - 1 ci es Quter Ending Base Ye Ahmedabad Bengaluru Chennai Hyderabad Kolkata umbai Pune elhi Of the 2 Tier-2 cities being covered, maximum increase in indices was seen in Lucknow (7.8%) followed by Indore (7.%) and Bhubanesw (7.%), while maximum drease in indices was seen in Patna (-.%) and Kanpur (-.2%) on Y-o-Y basis. On Q-o-Q basis, Lucknow (.8%) and Patna (-.%) witnessed maximum increase and drease resptively.

7 The graphs below show the movement of Prices for under-construction properties over 17 quters for Tier 2 cities classified as per geographic location. Figure: HPI@ket Prices for under construction properties for Tier 2 cities (Base Ye FY20 = ) HPI@ket Prices for underconstruc on Proper es Tier - 2 ci es-central & East Zone HPI@ket Prices for underconstruc on Proper es Tier - 2 ci es-north Zone Quter Ending Quter Ending ehradun Kanpur Noida Fidabad Lucknow Indore Bhubanesw Patna Bhopal Raipur Guwaha HPI@ket Prices for underconstruc on Proper es Tier - 2 ci es- South Zone HPI@ket Prices for underconstruc on Proper es Tier - 2 ci es- West Zone n 7 7 Base Ye 7 7 Base Ye Ghaziabad Ludhiana Chandigh (Tricity) Gurugram eerut Quter Ending Base Ye Kochi Vijayawada Coimbatore Thiruvananthapuram Quter Ending Base Ye Nashik Vasai Vir Jaipur Surat Nagpur Vadoda Among the 1 Tier- cities, the viations ranged from.0% in Panvel to (-).8% in New Town, on Y-o-Y basis. On Q-o-Q basis, there were slight viations in the indices in the range of (-) 0.9% to 1.7%. ovement of HPI@ ket Prices for under-construction properties over 17 quters for Tier cities is as below:

8 Figure: Prices for under construction properties for Tier cities (Base Ye FY20 = ) HPI@ket Prices for underconstruc on proper es for Tier - ci es Quter Ending Base Ye Gandhinag Greater Noida Kalyan ombivali New Town Kolkata Thane Bidhan Nag (Excluding Rajhat) Bhiwadi Howrah ira Bhayander Navi umbai Pimpri Chinchwad Chakan Panvel

9 Quter Ending Ahmedabad Bengaluru Bhiwadi Bhopal Bhubanesw Bidhan Nag Chakan Chandigh (Tricity) Chennai Coimbatore ehradun elhi Fidabad Gandhinag Ghaziabad Greater Noida Gurugram Guwahati Howrah Hyderabad Indore Jaipur Kalyan ombivali Kanpur Kochi Kolkata Lucknow Ludhiana eerut ira Bhayander umbai Nagpur Nashik Navi umbai New Town Kolkata Noida Panvel Patna Pimpri Chinchwad Pune Raipur Rajkot Ranchi Surat Thane Thiruvananthapuram Vadoda Vasai Vir Vijayawada Vizag n p 9 n 91 p n 89 1 p n Table below comprises of HPI@Assessment Prices computed for 0 cities (Base Ye FY 20 =) APPENIX 1 p n

10 8 Quter Ending Ahmedabad Bengaluru Bhiwadi Bhopal Bhubanesw Bidhan Nag Chakan Chandigh (Tricity) Chennai Coimbatore ehradun elhi Fidabad Gandhinag Ghaziabad Greater Noida Gurugram Guwahati Howrah Hyderabad Indore Jaipur Kalyan ombivali Kanpur Kochi Kolkata Lucknow Ludhiana eerut ira Bhayander umbai Nagpur Nashik Navi umbai New Town Noida Panvel Patna Pimpri Chinchwad Pune Raipur Surat Thane Thiruvananthapuram Vadoda Vasai Vir Vijayawada n p 9 9 n 9 p n 17 p n p Table below comprises of HPI@ket Prices for under construction properties computed for 7 cities (Base Ye FY 20 =) APPENIX n

11

12 GST Core -A, India Habitat Centre, Lodhi Road, New elhi0, (PBX) , Fax: , Website: