House Price Index Rises 2.8% On Annual Basis, Says RBI
Residential and commercial buildings stand in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

House Price Index Rises 2.8% On Annual Basis, Says RBI

Bookmark

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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.