The Reserve Bank of India (RBI) released its quarterly house price index (HPI) for the fourth quarter of 2019-20. The HPI is calculated on base year 2010-11.
The index is 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 all-India HPI contracted by (-) 0.2 per cent on a sequential basis (q-o-q), largely due to decline in the house prices in Delhi, Bengaluru, Ahmedabad and Jaipur; Mumbai recorded the highest sequential rise,” the statement said.
However, on an annual basis (y-o-y), the all-India HPI increased by 3.9 per cent in the fourth quarter of 2019-20. The index had risen by 3 per cent in the previous quarter and 3.6 per cent In Jan-March 2019.
The HPI varied widely across cities and ranged from 22.6 per cent (in Jaipur) to (-)13.8 per cent (in Kochi), the statement said.
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