The all India house price index (HPI) rose by 3.5 per cent year-on-year in the first quarter of 2022-23, according to data released by the Reserve Bank of India.
The growth in the HPI was 1.8 per cent during January-March and 2 per cent in the April-June quarter of 2021-22.The RBI said the year-on-year movements in HPI varied widely across the cities – ranging from a growth of 16 per cent in Kolkata to a contraction of 4 per cent in Bengaluru.
On a sequential basis, all India HPI increased by 2.2 per cent in the first quarter of 2022-23. Delhi, Kolkata, and Jaipur recorded sequential contraction in the index, while it rose for the remaining cities.
The central bank releases its quarterly house price index (HPI) based on transaction-level data received from the housing registration authorities in 10 major cities. The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.