Today, the Reserve Bank released its quarterly house price index (HPI)1(base: 2010-11=100) for Q4:2023-24, based on transaction-level data received from the registration authorities in ten major cities2. Time series data on all-India and city-wise HPIs are available at the Bank’s database on Indian economy (DBIE) portal (https://cimsdbie.rbi.org.in/DBIE/#/dbie/home> Statistics > Real Sector > Prices & Wages).
Highlights:
All-India HPI increased by 4.1 per cent (y-o-y) in Q4:2023-24 as compared to 3.8 per cent growth in the previous quarter and 4.6 per cent a year ago; annual HPI growth varied widely across the cities – ranging from a high of 11.7 per cent (Ahmedabad) to a low of -0.3 per cent (Jaipur). On a sequential (q-o-q) basis, all-India HPI increased by 0.9 per cent in Q4:2023-24; among the ten cities, eight (viz., Delhi, Chennai, Bengaluru, Ahmedabad, Lucknow, Kolkata, Kanpur and Kochi) recorded a rise in house prices during the latest quarter.
Ajit Prasad
Deputy General Manager
(Communications)
Press Release: 2024-2025/417
1Reference may be made to the article “House Price Index: 2010-11 to 2013-14” in the October 2014 issue of the RBI Bulletin (weblink: https://www.rbi.org.in/Scripts/BS_ViewBulletin.aspx) for HPI compilation methodology.
2The ten cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai