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.
See also: House prices increase 7% in June quarter, shows NBH Residex
An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
sunita.mishra@proptiger.com
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