The Reserve Bank of India’s All India House Price Index (HPI) recorded 4.5 per cent year-on-year (y-o-y) growth in the second quarter of the current fiscal compared with 3.5 per cent in the previous quarter and 2.4 per cent a year ago.
The y-o-y movements in HPI varied widely across the cities - ranging from a growth of 11.1 per cent (Kochi) to a contraction of 4.1 per cent (Jaipur), per RBI’s statement.
On a sequential (q-o-q) basis, the all India HPI increased by 0.4 per cent in Q2.
While Ahmedabad, Kolkata, Chennai and Jaipur recorded sequential contraction in the index, it rose for the remaining cities, RBI said.
RBI’s quarterly All India HPI is based on transaction-level data received from the registration authorities in ten major cities: Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.