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Housing Prices Increased by 10.5% in Jan-Mar 2017 in India's Ten Major Cities : RBI

The index is based on transaction data received from housing registration authorities in 10 major cities - Mumbai, Delhi, Chennai, Kochi, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur and Kanpur.

PTI

Updated:July 17, 2017, 11:38 PM IST
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Housing Prices Increased by 10.5% in Jan-Mar 2017 in India's Ten Major Cities : RBI
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New Delhi: Housing prices increased by an average 10.5 percent during January-March quarter of last fiscal across ten major cities of the country compared to the year-ago period, according to Reserve Bank of India.

However, the prices increased marginally by 0.8 percent over the October-December quarter of 2016-17.

The RBI on Monday released its quarterly House Price Index (HPI) for the fourth quarter of 2016-17 fiscal. The index is based on transaction data received from housing registration authorities in 10 major cities - Mumbai, Delhi, Chennai, Kochi, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur and Kanpur.

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

According to RBI data, housing prices in Mumbai appreciated by 17.25 percent in January-March period as compared to the corresponding period of 2015-16.

Prices shot up by 27 per cent in Kochi, 16 per cent in Lucknow, 17 percent in Kanpur and 15 per cent each in Bangalore and Ahmedabad.

Kolkata witnessed a price increase of 9 per cent, while rates in Delhi rose by 3.5 percent. Jaipur saw marginal rise.

Chennai was the lone city to witness fall, though slightly. "The all-India HPI recorded a sequential increase of 0.8 percent during January-March quarter with six of the ten cities recording a rise in sequential terms. Kochi recorded the highest rise at 18.3 percent whereas Chennai witnessed significant contraction of (-6.7 percent)," the RBI said.

(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Mirza Arif Beg
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