Reserve Bank's house price index rises 1.1% yoy in Q3FY2021

House price index rose 1.2% in Q3FY2021 over Q2FY2021

The Reserve Bank released its quarterly house price index (HPI)1 (base: 2010-11=100) for Q3FY2021, based on transaction level data received from housing registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai).

The annual growth (y-o-y) in all-India HPI remained low at 1.1% in Q3FY2021, similar to the previous quarter but lower than 3.0% a year ago. HPI growth (y-o-y) across major cities varied widely from an increase of 6.0% (Bengaluru) to a contraction of (-) 7.7% (Kochi).

The all-India HPI increased 1.2% in Q3FY2021 over the previous quarter. Chennai, Delhi, Bengaluru and Lucknow recorded sequential (q-o-q) increase in HPI, while it contracted for other cities.

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