Today, the Reserve Bank today released the quarterly House Price Index (HPI)¹ (base 2010-11=100) for Q4:2016-17, based on transaction data received from housing registration authorities in 10 major cities (viz., Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi). Time series data on all-India and city-wise HPI are available in the Database of Indian Economy (DBIE) portal (https://dbie.rbi.org.in/DBIE/dbie.rbi?site=statistics > RealSector > Price&Wages > Quarterly).

Highlights:

• The all-India HPI recorded a sequential increase (i.e., Q4:2016-17 over Q3:2016-17) of 0.8 per cent in Q4:2016-17 with six of the ten cities recording a rise in sequential terms- Kochi recorded the highest rise (18.3 per cent) whereas Chennai witnessed significant contraction [(-) 6.7 per cent].

• On an annual basis, the all-India HPI increased by 10.5 per cent with Mumbai, Bengaluru, Ahmedabad, Lucknow, Kanpur and Kochi recording double-digit annual growth whereas Chennai witnessed a marginal moderation in housing prices.

Ajit Prasad
Assistant Adviser

Press Release: 2017-2018/155

¹ Compiled in the Statistical Analysis Division of the Department of Statistics and Information Management, Reserve Bank of India, Mumbai. Reference may be made to the article “House Price Index: 2010-11 to 2013-14” in October 2014 issue of the RBI Bulletin (weblink: https://www.rbi.org.in/Scripts/BS_ViewBulletin.aspx) for HPI compilation methodology and the related caveats.