Housing prices up 13.7% in July-Sep quarter: RBI

Mumbai(PTI): Housing prices increased by 13.7% during July-September of this fiscal compared with year-ago period but the annual growth rate has slowed down, according to RBI report.


Delhi witnessed the maximum rise with nearly 22% increase in prices during the quarter over the last year.

The Reserve Bank of India has released a quarterly House Price Index (HPI) for All India and ten major cities — Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi.

The all-India housing price index increased to 219.5 in the second quarter of 2015-16 from 215.3 in the first quarter mainly due to an increase in HPI of Delhi, Ahmedabad and Chennai, RBI said in a statement.

The housing price index decreased in Kolkata, Kochi and Bengaluru during the second quarter of this fiscal from the previous quarter.

“Year-on-Year growth for HPI-All India further declined to 13.7% in Q2 of 2015-16 (14.5% in Q1 of 2015-16 and 17.5% in Q4 of 2014-15) mainly due to decline of year-on-year growth of HPI of Kolkata, Jaipur and Lucknow,” RBI said.

The data showed that the housing price index of Delhi rose maximum at 21.9% during the second quarter of 2015-16 compared with a year-ago. The minimum year-on-year growth was in Kochi (-7.2%).

On quarter-on quarter basis, the housing price index for Kanpur witnessed the highest growth at 5.51%, whereas Kolkata witnessed maximum fall in index of 3.13%.