Today, the Reserve Bank released its quarterly house price index (HPI)¹ (base: 2010-11=100) for Q2:2023-24, 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://dbieold.rbi.org.in/DBIE/dbie.rbi?site=statistics > Real Sector > Price & Wages> Quarterly).

Highlights:

• All-India HPI growth (y-o-y) 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).

• On a sequential (q-o-q) basis, all-India HPI contracted by 1.2 per cent in Q2:2023-24; seven of the ten cities witnessed price increase in housing registration during the latest quarter.

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/1378

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: https://www.rbi.org.in/Scripts/BS_ViewBulletin.aspx) for HPI compilation methodology.

² The ten cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai