India's house price index rises 2.2% in Q2 as RBI updates base year

The All-India House Price Index (HPI) based on transactions in 18 major cities increased at a slower pace of 2.2 per cent in the second quarter of the current fiscal compared to 7 per cent in the year-ago period, according to Reserve Bank data released on Thursday.

The Reserve Bank of India (RBI) compiles the HPI quarterly based on transaction-level data received from the registration authorities.

The central bank released its HPI for Q2:2025-26 with a new base year of 2022-23. The earlier base year was 2010-11.

"All India HPI recorded an annual growth (y-o-y) of 2.2 per cent in Q2:2025-26 as compared to 7 per cent registered in the corresponding quarter a year ago. The cities like Nagpur, Ghaziabad, and Chandigarh contributed for the rise in HPI," RBI said.

The value of House Price Index declined from 113.4 to 112.7 in Q2:2025-26 as compared to Q1:2025-26, owing to decrease of the index for major cities, namely Kolkata, Chennai, Lucknow and Hyderabad.

On a quarter-on-quarter basis, the index registered a decline of 0.6 per cent, contributed largely by Kolkata, Chennai and Lucknow.

The 18 cities covered by the RBI are Mumbai, Delhi, Chennai, Kolkata, Bangalore, Lucknow, Ahmedabad, Jaipur, Kanpur, Kochi, Hyderabad, Thiruvananthapuram, Pune, Ghaziabad, Thane, Gautam Buddha Nagar, Chandigarh and Nagpur.