Latest News | All-India House Price Index Rises 2.8 Pc in Q3: RBI Data

Mumbai, Feb 28 (PTI) The all India house price index (HPI) rose 2.8 per cent in the October-December quarter of 2022-23 as compared with 3.1 per cent a year ago, according to data released by the Reserve Bank of India on Tuesday.

The RBI releases quarterly HPI based on transaction-level data received from the registration authorities in ten major cities. The cities are: Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.

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The movements in HPI during the third quarter of the current fiscal varied widely across the cities - ranging from a growth of 7.1 per cent (Kochi) to a contraction of 9 per cent (Jaipur).

"On a sequential (q-o-q) basis, all India HPI increased by 1.3 per cent in Q3:2022-23; while Lucknow, Kolkata, and Jaipur recorded sequential contraction in the index, it rose for the remaining cities," the RBI said.

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Beginning with Mumbai city, the Reserve Bank initiated the work of compiling a house price index (HPI) in 2007 and brought out a quarterly HPI for Mumbai city. Over the quarters, the coverage has been extended by incorporating the nine other cities.

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