The all-India House Price Index (HPI) increased year on year by 2.7 percent in the March quarter of 2020-21 compared to the 3.9 percent growth a year ago for the same period, the Reserve Bank of India data released on Monday showed.
The RBI released its quarterly HPI data for the January-March quarter of 2020-21 taking into account the data received from housing registration authorities in 10 major cities, including metros. The RBI collected data from Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.
The RBI data shows a large variation across major cities in India. For example, Bengaluru saw an increase of 15.7 percent and Jaipur had a contraction of 3.6 percent.
Comparing this to the sequential quarter on quarter basis data, the all-India HPI growth rate moderated to 0.2 percent in the fourth quarter of 2020-21. The cities that recorded a sequential decline in HPI are Delhi, Bengaluru, Kolkata and Jaipur while Ahmedabad, Chennai, Kanpur, Kochi, Lucknow and Mumbai recorded a sequential increase in HPI.
In the third quarter of 2020-21, the HPI growth YoY across major cities varied widely from an increase of 6 percent in Bengaluru to a contraction of 7.7 percent in Kochi.
(Edited by : Shoma Bhattacharjee)
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