Housing prices up 13.7% in July-Sep quarter: RBI

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Published: December 18, 2015 9:57:21 PM

Housing prices increased by 13.7 per cent during July-September of this fiscal compared with year-ago period but the annual growth rate has slowed down, according to RBI report.

Housing prices increased by 13.7 per cent during July-September of this fiscal compared with year-ago period but the annual growth rate has slowed down, according to RBI report.

Delhi witnessed the maximum rise with nearly 22 per cent increase in prices during the quarter over the last year.

The Reserve Bank of India today released quarterly House Price Index (HPI) for All India and ten major cities – Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi.

The all-India housing price index increased to 219.5 in the second quarter of 2015-16 from 215.3 in the first quarter of mainly due to increase in HPI of Delhi, Ahmedabad and Chennai, RBI said in a statement.

The housing price index decreased in Kolkata, Kochi and Bengaluru during the second quarter of this fiscal from the previous quarter.

“Year-on-Year growth for HPI-All India further declined to 13.7 per cent in Q2 of 2015-16 (14.5 per cent in Q1 of 2015-16 and 17.5 per cent in Q4 of 2014-15) mainly due to decline of year-on-year growth of HPI of Kolkata, Jaipur and Lucknow,” RBI said.

The data showed that the housing price index of Delhi rose maximum at 21.9 per cent during the second quarter of 2015-16 compared with a year-ago. The minimum year-on-year growth was in Kochi (-7.2 per cent).

On quarter-on quarter basis, the housing price index for Kanpur witnessed the highest growth at 5.51 per cent, whereas Kolkata witnessed maximum fall in index of 3.13 per cent.

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