Latest News | All-India House Price Index Slows to 2 Pc in Q1: RBI

Mumbai, Aug 31 (PTI) The growth in all-India House Price Index (HPI) slowed to 2 per cent in the first quarter this fiscal against 2.8 per cent in the year-ago period, according to RBI data released on Tuesday.

The Reserve Bank releases a quarterly house price index (HPI) based on transaction-level data received from housing registration authorities in ten major cities. The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.

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"All-India HPI recorded 2.0 per cent annual growth (y-o-y) in Q1:2021-22 as compared with 2.7 per cent growth in the previous quarter and 2.8 per cent a year ago," the central bank said in a release.

The HPI growth varied widely across the cities. It ranged from an expansion of 8.8 per cent (Ahmedabad) to a contraction of (-) 5.1 per cent (Chennai).

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On a sequential or quarter-on-quarter basis, the all-India HPI registered a 0.5 per cent growth in the April-June period of 2021-22.

Mumbai, Delhi, Chennai, Kanpur and Lucknow recorded a sequential decline in HPI, whereas it increased in the other five cities.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)