- The Prime Residential Index refers to the most desirable and most expensive property in the city, it is defined as the top 5% of each market by value.
- As per the index, New Delhi is ranked at 32nd position, Mumbai is ranked at 36th position and Bengaluru is ranked at 40th position.
- Also, the index revealed that India’s top property markets have witnessed a slight decline in prime residential prices. The prime residential market for Mumbai registered a decline of 0.1% with an average price of Rs 63,758 per square foot. For Bengaluru, there is a decline of 2.7% year-on-year in prime residential prices.
- In the case of New Delhi, the global index remained flat in terms of annual capital value change in the prime residential market to an average price of Rs 33,572 per square foot.
- The index ranking for Q1 2021 is led by China’s cities like Shenzhen, Shanghai and Guangzhou at 1st, 2nd and 3rd positions respectively.
Question:
Q.1 What is the rank of New Delhi in the Global Prime Residential Index for Q1 of 2021?
a. 43rd
b. 78th
c. 32nd
d. 58th
a. 43rd
b. 78th
c. 32nd
d. 58th
