The All-India House Price Index growth moderated to 3.3% in the June quarter of 2024-25, down from 5.1% 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 from registration authorities across 10 major cities, including Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.
"All-India HPI increased by 3.3% year-on-year in Q1: 2024-25, compared to 4.1% growth in the previous quarter and 5.1% a year ago. Annual HPI growth varied widely across cities, ranging from a high of 8.9% in Kolkata to a low of (-)1.7% in Delhi," the central bank stated.
On a sequential (quarter-on-quarter) basis, the all-India HPI rose by 1.8% in the first quarter of 2024-25.
Nine out of the ten cities, including Mumbai, Delhi, Bengaluru, Lucknow, Kolkata, Chennai, Jaipur, Kanpur, and Kochi, recorded an increase in house prices during the quarter.
(With inputs from PTI)
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