Today, the Reserve Bank released its quarterly house price index (HPI)¹ (base: 2010-11=100) for Q1:2022-23, 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 on 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 3.5 per cent in Q1:2022-23 as compared with 1.8 per cent in the previous quarter and 2.0 per cent a year ago; the y-o-y movements in HPI varied widely across the cities - ranging from a growth of 16.0 per cent (Kolkata) to a contraction of 4.0 per cent (Bengaluru).

• On a sequential (q-o-q) basis, all India HPI increased by 2.2 per cent in Q1:2022-23; while Delhi, Kolkata, and Jaipur recorded sequential contraction in the index, it rose for the remaining cities.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/795

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.