Today, the Reserve Bank released its quarterly house price index (HPI)¹ (base: 2010-11=100) for Q2:2020-21, based on transaction level data received from housing registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai). Time series on all-India and city-wise HPI 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:

• The annual growth (y-o-y) in all-India HPI continued to moderate; it stood at 1.1 per cent in Q2:2020-21 as compared with 2.8 per cent growth in previous quarter and 3.3 per cent a year ago. HPI growth (y-o-y) varied widely across cities and ranged from an increase of 9.0 per cent (Ahmedabad) to a contraction of (-) 5.5 per cent (Delhi).

• The all-India HPI contracted by (-) 1.1 per cent on a sequential basis (q-o-q) in Q2:2020-21; among major cities, Delhi, Bengaluru, Kolkata and Chennai recorded sequential decline in HPI, whereas house prices in Mumbai remained around its previous quarter’s level.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/866

¹ Compiled in the Department of Statistics and Information Management, Reserve Bank of India. 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.