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Property81 Despite slow annual growth rate, housing prices up 13.7% in july sep quarter, says rbi

Blueberry Consilium Private Limited
Blueberry Consilium Private Limited

Despite slowing annual growth, housing prices increased 13.7% in the July-September quarter according to an RBI report. Delhi saw the largest price increase at 22% while Kochi saw a decrease of 7.2%. The RBI housing price index for all India cities rose to 219.5 in the second quarter, with increases in Delhi, Ahmedabad, and Chennai driving the rise. Housing prices increased across most cities despite a slowdown in real estate demand, with Bengaluru rising 19.12% and Chennai up 12.38% compared to a year ago.

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Despite slow annual growth rate, housing prices up 13.7% in July-Sep quarter, says RBI Appearing as a silver lining for real estate industry, the Reserve Bank of Indias (RBI) report for July- September quarter states that though the annual growth rate has slowed down, housing prices increased by 13.7% compared with year-ago period. Housing prices rose in many cities across the country but Delhi witnessed the maximum rise with nearly 22% increase in prices during the quarter over the last year. The data showed that the housing price index of Delhi rose maximum at 21.9% during the second quarter of 2015-15 compared with a year ago. The minimum Y-o-Y growth was in Kochi (-7.2%). The Reserve Bank of India has released a quarterly House Price Index (HPI) for All India and ten major cities -- Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi. The all-India housing price index increased to 219.5 in the second quarter of 2015-16 from 215.3 in the first quarter of mainly due to increase in HPI of Delhi, Ahmedabad and Chennai, the RBI said in a statement. Year-on-Year growth for HPI-All India further declined to 13.7% in Q2 of 2015-16 (14.5% in Q1 of 2015-16 and 17.5% in Q4 of 2014-15) mainly due to decline of year-on-year growth of HPI of Kolkata, Jaipur and Lucknow, the RBI said. Kanpur witnessed the highest growth at 5.51% whereas Kolkata witnessed maximum fall in index of 3.13% on quarter-on-quarter basis. Housing price index of all the 10 cities, barring Kochi, went up during the second quarter of current fiscal. The prices have shown upward trend despite the huge slowdown in demand in the real estate sector, particularly in the residential segment. According to RBI report, housing price index of Bengaluru increased by 19.12% in the second quarter of this fiscal compared with the year-ago period, followed by Chennai (12.38%), Lucknow (10.89%), Mumbai (10.75%), Kanpur (8.44%), Ahmedabad (7.4%), Kolkata (7.07%) and Jaipur (3.2%). On pan-India basis, the index increased by 13.7% to 219.5 points against 193 in the year-ago period. The RBIs housing price index has taken the base year as Q1 of 2010-11 with an index of 100. The RBI said the index of Chennai is based on both residential and commercial properties.

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Property81 Despite slow annual growth rate, housing prices up 13.7% in july sep quarter, says rbi

  • 1. Despite slow annual growth rate, housing prices up 13.7% in July-Sep quarter, says RBI Appearing as a silver lining for real estate industry, the Reserve Bank of Indias (RBI) report for July- September quarter states that though the annual growth rate has slowed down, housing prices increased by 13.7% compared with year-ago period. Housing prices rose in many cities across the country but Delhi witnessed the maximum rise with nearly 22% increase in prices during the quarter over the last year. The data showed that the housing price index of Delhi rose maximum at 21.9% during the second quarter of 2015-15 compared with a year ago. The minimum Y-o-Y growth was in Kochi (-7.2%). The Reserve Bank of India has released a quarterly House Price Index (HPI) for All India and ten major cities -- Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi. The all-India housing price index increased to 219.5 in the second quarter of 2015-16 from 215.3 in the first quarter of mainly due to increase in HPI of Delhi, Ahmedabad and Chennai, the RBI said in a statement. Year-on-Year growth for HPI-All India further declined to 13.7% in Q2 of 2015-16 (14.5% in Q1 of 2015-16 and 17.5% in Q4 of 2014-15) mainly due to decline of year-on-year growth of HPI of Kolkata, Jaipur and Lucknow, the RBI said. Kanpur witnessed the highest growth at 5.51% whereas Kolkata witnessed maximum fall in index of 3.13% on quarter-on-quarter basis. Housing price index of all the 10 cities, barring Kochi, went up during the second quarter of current fiscal. The prices have shown upward trend despite the huge slowdown in demand in the real estate sector, particularly in the residential segment. According to RBI report, housing price index of Bengaluru increased by 19.12% in the second quarter of this fiscal compared with the year-ago period, followed by Chennai (12.38%), Lucknow (10.89%), Mumbai (10.75%), Kanpur (8.44%), Ahmedabad (7.4%), Kolkata (7.07%) and Jaipur (3.2%). On pan-India basis, the index increased by 13.7% to 219.5 points against 193 in the year-ago period. The RBIs housing price index has taken the base year as Q1 of 2010-11 with an index of 100. The RBI said the index of Chennai is based on both residential and commercial properties.