Gurugram sees biggest drop in house prices: Report

Bengaluru was followed by Kolkata, a 44 per cent decrease, and Ahmedabad, a 42 per cent decline

A year after demonetisation, Gurugram saw an 18 per cent decline in house prices in the first eight months of 2017, the biggest year-on-year drop among top 10 residential markets, said a new study.

“Almost all the cities witnessed a drop (5-10 per cent) in weighted average absorbed price after demonetisation as many developers reduced rates and offered freebies during the period worth five to seven per cent, resulting in a discount or correction of up to 15 per cent,” said the report by data analytics firm PropEquity.

Cities such as Gurugram, Kolkata and Chennai witnessed a considerable dip in weighted average