House Price Index RBI up 4 per cent YoY in Q3 FY24

According to the Reserve Bank of India’s (RBI) All-India Home Price Index (HPI), the rate at which property prices were rising in Delhi and Mumbai fell in the December quarter (Q3) of the Financial Year 2023-24 (FY24) as compared to the preceding quarter. Property price hike rate in Delhi fell to 1.13 per cent year-on-year (YoY) in Q3 FY24 from 4.63 per cent in the September 2023 quarter. While, in Mumbai , the year-on-year rate of property price hike fell marginally to 2.02 per cent in the December 2023 quarter from 2.35 per cent in the preceding quarter.

Although, these two cities recorded fall in price hike rates, but, overall in India, property prices increased by 3.84 per cent YoY in Q3 FY24.

How much property prices increased in Bengaluru?

In India’s Silicon Valley, home prices went up by 6.34 per cent YoY in Q3 FY24.

Which city recorded highest property price hike?

Property prices increased the highest by 8.41 per cent YoY in Chennai in Q3 FY24. In fact, in Delloite of India, house price hike rate was double of national average. After that, property price hike rates went up the most in Kolkata (7.65 per cent), Bengaluru (6.34 per cent) and Ahmedabad (5.10 per cent).

Other cities whose house price hike data the RBI released are Jaipur, Lucknow, Kanpur, and Kochi.

These data have been taken from RBI’s All-India Home Price Index (HPI). The index constitutes weighted average property price hike in 10 cities of the nation. The apex bank releases the HPI every quarter.

Annual Property Price Hike In Top 10 Cities:

Source: RBI