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• The Reserve Bank of India (RBI) reported a 4.2% year-on-year increase in the All India House Price Index (HPI) for the January–March quarter of FY26.
• The growth was higher than the 3.8% rise recorded during the corresponding period of the previous financial year.
• Cities including Nagpur, Jaipur, Chandigarh and Kanpur were the key contributors to the increase in housing prices.
• On a sequential basis, the HPI rose 0.2% to 115.9 from 115.6 in the preceding quarter.
• The index is compiled using property transaction data from registration authorities across 18 major Indian cities.
The Reserve Bank of India (RBI) reported that the All India House Price Index (HPI) increased by 4.2% year-on-year during the January–March quarter of FY26, reflecting a stronger pace of growth than the 3.8% expansion recorded during the corresponding quarter of the previous financial year. The increase was driven primarily by rising residential property prices in several key urban markets, including Nagpur, Jaipur, Chandigarh and Kanpur.
According to data released by the central bank on Friday, the HPI stood at 115.9 in the fourth quarter of FY26, compared with 115.6 in the preceding quarter. This translated into a quarter-on-quarter growth of 0.2%, indicating continued appreciation in housing values across major residential markets despite a moderate sequential increase.
The RBI stated that the latest quarterly rise was supported by higher housing prices in cities such as Jaipur, Lucknow and Pune, which contributed to the improvement in the national index between the third and fourth quarters of the financial year.
The House Price Index is compiled by the RBI every quarter using transaction-level property registration data received from state registration authorities. The index serves as a key indicator for tracking movements in residential property prices across urban India and assessing trends in the housing market.
For the fourth quarter of FY26, the HPI has been calculated using 2022-23 as the base year. The index is derived from housing transaction data across 18 major cities, providing a broad representation of residential market performance in different regions of the country.
The cities covered under the index include Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur, Kochi, Hyderabad, Thiruvananthapuram, Pune, Ghaziabad, Thane, Gautam Buddha Nagar, Chandigarh and Nagpur. The inclusion of these markets enables the RBI to capture price movements across metropolitan centres as well as emerging urban residential destinations.
The latest data indicates that residential property prices continued to record steady growth during the final quarter of FY26, with several tier-II and tier-III cities emerging as significant contributors to the overall increase in the national house price index. The year-on-year acceleration from 3.8% to 4.2% suggests sustained demand and price resilience across the housing market, while the quarter-on-quarter increase reflects continued momentum in select urban centres.
Source - PTI
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