The all India house price index (HPI) rose by 3.5% per cent year-on-year in the first quarter of 2022-23, data released by the Reserve Bank of India (RBI) show. This expansion was restricted at 1.8% in the previous quarter and 2% a year ago.
The price movement during the April-June period of FY23, however, varied widely among cities, data showed. While the annual price increase for Kolkata, for instance was 16%, HPI for Bengaluru contracted by 4%.
The RBI quarterly HPI is based on transaction-level data received from property registration authorities in India’s 10 major cities, including Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.
On a quarterly basis, all-India HPI expanded by 2.2% during the quarter ended June 30, 2022. Barring Delhi, Kolkata and Jaipur, the HPI for all the other cities covered showed an expansion.
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