India's HPI Growth Slows Down in June Quarter

The all-India House Price Index (HPI) grew by 3.3% in the June quarter of 2024-25, down from 5.1% a year ago, as per RBI data. This HPI is determined from transactional data in 10 major cities. Growth ranged from 8.9% in Kolkata to -1.7% in Delhi.

The all-India House Price Index (HPI) saw a moderation, growing by 3.3 percent in the June quarter of 2024-25, down from 5.1 percent in the same period last year, according to data released by the Reserve Bank of India on Friday.

The RBI compiles the HPI based on transaction-level data sourced from registration authorities across ten major cities, including Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.

The report revealed that all-India HPI increased by 3.3 percent year-on-year in Q1:2024-25, compared to 4.1 percent growth in the previous quarter and 5.1 percent a year earlier. Annual HPI growth showed significant variability across these cities, with Kolkata recording the highest at 8.9 percent, while Delhi saw a decline of 1.7 percent. On a sequential basis, all-India HPI rose by 1.8 percent in the first quarter of 2024-25. Nine out of the ten cities, including Mumbai, Delhi, Bengaluru, Lucknow, Kolkata, Chennai, Jaipur, Kanpur, and Kochi, experienced an uptick in house prices during this period.

(With inputs from agencies.)