Mumbai Report - ICICI Home Finance
Mumbai Report - ICICI Home Finance
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