Housing prices jump 8.4% in Chennai in Q3; how much have residential property rates increased in your city?
Housing prices in India have continued to increase in the third quarter of 2023-24, according to the data released by the Reserve Bank of India (RBI). The All-India Home Price Index (HPI) of the RBI jumped to 3.81% in the December quarter of 2023-24 from the year-ago period. During the corresponding quarter last year, the annual growth in the index was 2.81%. In the July-September quarter of 2023-24, the annual price rise of houses had moderated to 3.5%.
The central bank released the HPI based on transaction-level data received from the registration authorities in 10 major cities on February 26, 2024. The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai. Do note that the movement of prices of residential property varies widely from one city to another.
