The all-India House Price Index (HPI) moderated to 3.4 per cent in the July-September quarter of 2023-24 from 4.5 per cent in the year-ago period, according to data released by the Reserve Bank of India on Thursday.
The RBI releases HPI-based on transaction-level data received from the registration authorities in 10 major cities.
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The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.
"All-India HPI growth (year-on-year) moderated to 3.4 per cent in Q2:2023-24 from 5.1 per cent in the previous quarter and 4.5 per cent a year ago; annual growth in HPI varied widely across the cities - ranging from the high growth of 6.5 per cent (Chennai) to a contraction of 0.2 per cent (Jaipur)," the central bank said.
On a sequential (quarter-on-quarter) basis, all-India HPI contracted by 1.2 per cent in the second quarter of 2023-24; seven of the 10 cities witnessed price increase in housing registration during the latest quarter.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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