New Delhi: Housing prices rose by an average 5.3% during the April-June quarter of this fiscal year in ten major cities – Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi – as compared to the same period last year, according to RBI data. The average rates appreciated by 2.5% in these 10 major cities when compared to the previous quarter.
The Reserve Bank of India (RBI) on Wednesday released the quarterly House Price Index (HPI) for the previous quarter (Q1 of 2018-19), based on transaction data received from housing registration authorities in these ten cities.
“On a year-on-year basis, the all-India HPI recorded a growth of 5.3 per cent in Q1:2018-19 as against 6.7 per cent in the previous quarter and 8.7 per cent a year ago,” RBI said in a statement. Except Delhi, all other cities recorded a rise in housing price on an annual basis, it added.
According to Business Standard, the HPI for Delhi stood at 341.6 in the first quarter this fiscal, slightly lower than the 341.9 recorded in the corresponding quarter last financial year. The base year is 2010-11 with HPI 100.
“The All-India HPI recorded a sequential increase of 2.5 per cent in Q1:2018-19 over Q4:2017-18,” RBI said. Despite a fall in annual prices, Delhi recorded the highest rise of 5.3% over these two quarters while Kanpur recorded the maximum contraction of (-) 2.4%.
(With PTI Inputs)