The Reserve Bank of India’s (RBI’s) All-India House Price Index (HPI) showed 4.5% year-on-year increase during the second quarter ended September 2022. The HPI had grown by 3.5% in the April-June quarter of FY23 and by 2.4% a year ago, the central bank said in a statement released on November 25, 2022. On a sequential basis, the All-India HPI increased by 0.4%, the RBI said.
HPI data also showed the yearly movement in housing prices across India’s 10 prime residential markets varied widely ─ ranging from 11.1% growth in Kerala’s Kochi to contraction of 4.1% in Rajasthan’s Jaipur. In the previous quarter, Kochi recorded price growth of 19.8% year-on-year.
The RBI HPI is based on transaction-level data received from registration authorities in 10 major cities. These cities are Ahmedabad, Bangalore, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.
A quarterly comparison showed Ahmedabad, Kolkata, Chennai and Jaipur recorded contraction in the index even as other remaining cities included in the analysis showed upwards movement in prices.
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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