Residential property prices increased in 48 out of 50 Indian cities during the fourth quarter of fiscal year 2024–25, according to data released by the National Housing Bank (NHB), as reported by Hindustan Times.
The NHB’s Housing Price Index (HPI), part of its RESIDEX report, showed an annual growth of 7.5% during the January–March 2025 quarter, compared to a 5.1% increase in the same period last year.
The index, which reflects the valuation prices of residential properties collected from banks and housing finance companies, covers 50 cities across the country.
Only two cities — Howrah in West Bengal and Thiruvananthapuram in Kerala — recorded a decline in property prices during the three-month period.
Among the eight key primary residential markets, all cities registered positive growth. Bengaluru recorded the highest annual rise at 13.1%, followed by Kolkata at 9.6%, Chennai at 9%, Pune at 6.8%, Ahmedabad at 6.1%, Mumbai at 5.9%, Hyderabad at 4.8%, and Delhi at 2.9%.
On a quarter-on-quarter basis, the index rose by 1.9% in January–March 2025. The NHB noted that the housing index has shown a steady upward trend on a quarterly basis since September 2021.
Meanwhile, home loan interest rates saw a marginal dip in February 2025 after the Reserve Bank of India reduced the repo rate by 25 basis points — the first rate cut in five years.
This led to a corresponding moderation in lending rates by the banking sector.