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  1. Brakes on real-estate prices: Realty prices slow down in Delhi, Ahmedabad in Jan-Mar

Brakes on real-estate prices: Realty prices slow down in Delhi, Ahmedabad in Jan-Mar

In the January-March quarter of 2018, the rate of real estate prices’ increase declined to 6.7 percent as against 7.2 percent in the October-December quarter. The rate was 10.4 percent a year ago.

By: | Published: July 21, 2018 11:28 AM
The decline in real estate prices in Delhi by 3.4 percent and Ahmedabad by 1.9 percent from the previous quarter largely fuelled the decline.

In the January-March quarter of 2018, the rate of real estate prices’ increase declined to 6.7 percent as against 7.2 percent in the October-December quarter. The rate was 10.4 percent a year ago. The decline in real estate prices in Delhi by 3.4 percent and Ahmedabad by 1.9 percent from the previous quarter largely fuelled the decline. RBI released the latest quarterly house price index (HPI) (base: 2010-11=100) for Q4 2017-18 on Thursday, based on transactions data received from housing registration authorities in 10 major cities namely Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi.

Major highlights of the report:

The All-India HPI recorded a sequential increase of 0.3 per cent in Q4:2017-18 over Q3:2017-18.

In sequential terms, Kochi recorded the highest rise (11.2 per cent) and Kolkata recorded the minimum rise (0.5 per cent).

Delhi (-3.4 per cent) and Ahmedabad (-1.9 per cent) recorded decline in HPI from the previous quarter.

On a year-on-year basis, the all-India HPI recorded a growth of 6.7 per cent in Q4:2017-18 as against 7.2 per cent in the previous quarter and 10.4 per cent a year ago.

In terms of annual growth rates, large divergences can be observed in city-wise house price movements.

Meanwhile, housing prices went up by an average of 7.6 percent in the three months ended December 2017, with the highest appreciation recorded in Kochi, according to RBI’s quarterly house price index (HPI) for Q3 of 2017-18 fiscal. It is based on transactions data received from housing registration authorities in ten major cities — Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi.

“The all-India HPI recorded growth of 7.6 per cent on an annual basis (ie, Q3 of 2017-18 over Q3 of 2016-17) as against 7.4 per cent observed in the previous quarter and 8.3 per cent a year ago,” RBI said, adding that the annual growth remained stable. The annual growth in HPI ranged from 0.2 per cent (in Bengaluru) to 26.6 per cent (in Kochi), indicating large divergences in city-wise housing price movements, it added.

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