Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Property prices rose in 48 out of 50 Indian cities in the final quarter of FY 2024-25, according to NHB's latest RESIDEX report. The Housing Price Index (HPI) recorded a 7.5% annual increase up from 5.1% a year earlier highlighting strong market momentum. Bengaluru led with 13.1% growth, followed by Kolkata (9.6%), Chennai (9%), and Pune (6.8%). Only Howrah and Thiruvananthapuram saw price declines. Sequentially, prices rose 1.9% between January and March. The RBI's recent 25 basis point repo rate cut the first in five years has lowered home loan rates, further supporting demand. The data signals continued market recovery and growing developer confidence.
Property prices witnessed an upward movement across 48 of the 50 tracked Indian cities during the final quarter of the 2024?25 financial year, according to data released by the National Housing Bank (NHB) earlier this week. The latest edition of the NHB RESIDEX, a residential housing price index, highlighted that only Howrah and Thiruvananthapuram reported a dip in values during this period. Advertisement
The 50-city Housing Price Index (HPI), which derives its findings from property valuation figures submitted by banks and housing finance companies, reflected an annual increase of 7.5%. This marks a notable jump from the 5.1% growth seen during the corresponding period a year ago.
The NHB stated that eight major primary residential markets experienced price appreciation between January and March this year. Ahmedabad saw a 6.1% rise in property prices, Bengaluru registered the highest growth at 13.1%, followed by Kolkata with a 9.6% increase. Chennai witnessed a 9% hike, Pune 6.8%, Mumbai 5.9%, Hyderabad 4.8%, and Delhi recorded a modest gain of 2.9%.
On a sequential basis, the Housing Price Index rose by 1.9% during the January-March quarter. The index has maintained a consistent upward trend on a quarter-on-quarter basis since September 2021, indicating a stable recovery in housing values over the past few years.
In a significant development for homebuyers, the Reserve Bank of India (RBI) introduced its first repo rate cut in five years this past February. The central bank reduced the rate by 25 basis points, resulting in a corresponding moderation of home loan interest rates by the same margin. This move is likely to further support housing demand and pricing momentum in the coming months.
The continuing rise in the Housing Price Index since 2021 also signals underlying structural strength in the market. Developers and investors are likely to interpret these figures as a green light for new launches and expansion, especially in markets where double-digit appreciation has occurred.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
