Today, the Reserve Bank released its quarterly house price index (HPI)¹ (base: 2010-11=100) for Q4:2021-22, based on transaction-level data received from the housing registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai). Time series data on all India and city-wise HPIs are available at the Bank’s database of Indian economy (DBIE) portal (https://dbie.rbi.org.in/DBIE/dbie.rbi?site=statistics > Real Sector > Price & Wages > Quarterly).

Highlights:

• All India HPI recorded an annual growth (y-o-y) of 1.8 per cent in Q4:2021-22 as compared with 3.1 per cent in the previous quarter and 2.7 per cent a year ago; the y-o-y movements in HPI varied widely across the cities - ranging from a growth of 19.2 per cent (Kolkata) to a contraction of 11.3 per cent (Bengaluru).

• On a sequential (q-o-q) basis, all India HPI registered a contraction of 1.1 per cent in Q4:2021-22; only Kolkata, Chennai and Kanpur recorded sequential growth; whereas the index contracted for the remaining cities, with Bengaluru recorded the highest sequential contraction of 11.1 per cent.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/287

¹ Reference may be made to the article “House Price Index: 2010-11 to 2013-14” in the October 2014 issue of the RBI Bulletin (weblink: /en/web/rbi/publications/rbi-bulletin) for HPI compilation methodology.