House Price Index Rises 2.8% On Annual Basis, Says RBI
The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.
The all-India House Price Index rose 2.8% in the first quarter of the current financial year on an annual basis, according to data released by the Reserve Bank of India.
The quarterly House Price Index for the April-June 2020 period is based on transaction-level data received from housing registration authorities in 10 major cities.
The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.
"On an annual basis (year-on-year), the all-India HPI increased by 2.8% in Q1:2020-21 as compared with 3.4% a year ago; annual growth in city wise HPI varied from an increase of 16.1% (Bengaluru) to a contraction of 6.7% (Delhi)," the RBI said.
Further, the all-India HPI increased by 1.2% on a sequential basis (quarter-on-quarter) during the first quarter of the current financial year.
House prices in Bengaluru, Kochi, Ahmedabad and Lucknow increased during the quarter on sequential basis, the central bank said.