The All-India House Price Index (HPI) rose by 3.1 percent year-over-year in the January–March quarter of fiscal 2024–25, maintaining the same growth rate as the previous quarter but falling short of the 4.1 percent increase recorded during the same period last year, the Reserve Bank said on June 20, as reported by Hindustan Times.
The data, published in the central bank’s quarterly house price index report, is based on transaction-level information from property registration authorities in 10 major cities across the country.
Annual price growth varied significantly across these cities. Kolkata registered the highest annual increase at 8.8 percent, while Kochi experienced the largest decline, with prices falling 2.3 percent.
On a sequential basis, the index grew by 0.9 percent compared with the previous quarter. Bengaluru, Jaipur, Kolkata and Chennai led the quarter-on-quarter increases in housing prices.
The 10 cities included in the RBI’s analysis are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.
The house price index is a key indicator used by the central bank to monitor real estate trends and gauge sectoral stability.