Mumbai witnessed a positive movement in City Index by 3%, which is a function of supply of properties as well as the average capital appreciation or drop in various localities of the city in the quarter, according to Magicbricks PropIndex Report.

Along with the 2% increase in the Listed Price Monitor which depicts the capital appreciation/ drop within a locality and is calculated on the basis of movement in the ''average rate per square foot'' within that locality.

The localities also saw an average increase of 2% in capital values with 67% localities showing positive movement in capital values. Most localities along the Western Expressway showed an increment in capital values.

Speaking on the occasion, Jayashree Kurup, Head of Content & Research, Magicbricks said, ''The Index value in Mumbai went up showing an increase in supply as well as prices. However, the Hosing Sentiment Index has shown that the consumer sentiment has dropped by 7 per cent. This indicates that despite higher supply, the rise in prices is holding consumers back from buying. With the smart Cities and other government moves, there is a lot of money being spent for city redevelopment. This may impact values across localities where positive liveability changes are implemented.''