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Mumbai Report - ICICI Home Finance

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Property Price Movements (Q4-2004 – Q3-2008) – Western Suburbs<br />

350<br />

300<br />

250<br />

200<br />

150<br />

100<br />

50<br />

0<br />

Q4-<br />

2004<br />

Q4-<br />

2005<br />

Q4-<br />

2006<br />

Q1-<br />

2007<br />

Western suburbs<br />

Q2-<br />

2007<br />

Q3-<br />

2007<br />

Q4-<br />

2007<br />

Source: <strong>ICICI</strong> HFC Mortgage Valuation Group (Assuming 100 as a base reference no. for Q4-2004)<br />

Comparison of actual (A) and real & logical (R&L) price movement<br />

The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings<br />

out a comparison between quarterly property price movements and changes in consumer price index for<br />

Western suburbs. Since zone wise inflation data is not available we have substituted the <strong>Mumbai</strong> inflation<br />

figures for each zone.<br />

300<br />

250<br />

200<br />

150<br />

100<br />

50<br />

0<br />

Mar<br />

2005<br />

Since 2006, there has been a widening gap between the residential property prices and the logical price<br />

levels, and by 2008, the property prices have increased at almost double the rate as compared with the real &<br />

logical price points.<br />

Q1-<br />

2008<br />

Q2-<br />

2008<br />

Q3-<br />

2008<br />

Q4-<br />

2008<br />

Bandra Santacruz Khar<br />

Andheri, Jogeshwari Kandivili Goregaon, Malad<br />

Borivali, Dahisar Mira Road, Bhayendar Virar, Vasai<br />

Mar<br />

2006<br />

Mar<br />

2007<br />

Jun<br />

2007<br />

<strong>Mumbai</strong> - Western Suburbs<br />

Sept<br />

2007<br />

Dec<br />

2007<br />

Mar<br />

2008<br />

Jun<br />

2008<br />

Sept<br />

2008<br />

Western Suburbs (A) Western Suburbs (R&L)<br />

Dec<br />

2008<br />

Mar<br />

2009<br />

Q1-<br />

2009<br />

Jun<br />

2009

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