Mumbai home prices defy all-India fall, post highest sequential rise in Q4

However, city had witnessed a drop in the third quarter over second quarter of the previous fiscal

Mumbai’s real estate prices seem to be immune to the economic slowdown. When most Indian cities showed a decline in prices as at the end of March, Mumbai’s real estate prices showed the highest sequential rise, according to Housing Price Index (HPI) of the Reserve Bank of India.  

The HPI is constructed taking data from housing registration authorities in ten major cities -- Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.  

While all-India HPI contracted by 0.2 per cent on a quarter on quarter basis, largely due to decline in the house prices in Delhi, Bengaluru, Ahmedabad