Housing prices have increased by up to 7.1 per cent in 12 major cities, including Delhi and Mumbai, in January-March period of this year due to a surge in demand, National Housing Bank said today. Prices witnessed an increase ranging from 1.3 per cent in Bhopal to 7.1 per cent in Surat in comparison to that in the previous quarter of October-December, 2013, the quarterly update of NHB Residex said. Prices, however, fell in 12 other cities, ranging from -0.6 per cent in Vijayawada to -5.7 per cent in Patna. Indices for Faridabad and Kochi remained stagnant. Ahmedabad saw a prise rise of 6.1 per cent, Chennai 5.8 per cent and Kolkata 5.1 per cent. Lucknow saw 4.9 per cent rise, Raipur 4.4 per cent, Mumbai 3.2 per cent, Nagpur 2.9 per cent, Dehradun 2.7 per cent, Hyderabad 2.2 per cent, Delhi 1.5 per cent and Bhopal 1.3 per cent. Cities which witnessed a decline include Jaipur (-3.8 per cent), Guwahati (-3.75 per cent), Bengaluru (-3.6 per cent), Meerut (-3.5 per cent), Bhubaneshwar (-3.47 per cent) and Ludhiana (-3.3 per cent). Prices fell in Chandigarh by (-2.7 per cent), Coimbatore (-1.7 per cent), Indore (-1.6 per cent), Pune (-1.3 per cent) and Vijayawada (-0.6 per cent). The residex for the quarter January-March, 2014 constructed for 26 cities has taken into account the price trends for residential properties in different locations and zones in each city. It is based on the transaction data received from Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).


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GOLD FLAKE BURNS FINGERDiversified group ITC Ltd today said it has increased prices of its Gold Flake cigarette brand by over 7 per cent. The price of Gold Flake Filter pack consisting of 10 cigarettes will now cost Rs 59 from Rs 55 earlier. Likewise, Gold Flake Premium Filter cigarette will cost Rs 58, up from Rs 55 earlier. When contacted, a company spokesperson confirmed the hike in prices. ITC, which is the market leader in cigarettes in India, sells various brands including India Kings, Classic Gold Flake, Navy Cut among others. The company's cigarettes business grew by 11.48 per cent to Rs 3,623.23 crore during the fourth quarter ended March 31, 2013, compared to Rs 3,249.88 crore in the same period of previous fiscal. ITC produces cigarettes at manufacturing plants located in Bengaluru, Munger, Saharanpur, Kolkata and Pune. Besides FMCG, ITC has interests hotels, paperboards and packaging, tobacco products and information technology. Net sales of the company rose to Rs 29,605.58 crore for the year ended March 31, 2013, compared to Rs 24,798.43 crore in the 2011-12 financial year. Shares of ITC today closed at Rs 338.50 on the BSE, up 3.74 per cent from its previous close.


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