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Marginal decrease in property price: govt

india Updated: Aug 07, 2009 22:10 IST

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Government on Friday said a downward trend has been witnessed in the property prices in the global reality markets.

In a written reply in the Lok Sabha, Minister of State for Urban Development Saugata Roy said as per the National Housing Banks, Residential Housing Price Index, a fall in the property prices has been observed in some of the cities covered by the index.

"Out of the 15 cities covered, the index has shown marginal decline in prices of residential properties in nine cities, viz, Hyderabad, Patna, Ahmedabad, Chennai, Jaipur, Lucknow, Pune, Surat and Kochi," he said.