Economy

Housing prices up 6.7% in Q1: RBI

PTI Mumbai | Updated on October 30, 2012 Published on October 29, 2012

RBI's quarterly House Price Index, based on data for nine cities, indicates a Q-o-Q increase of 6.7% at the national level.

There has been a 6.7 per cent growth in housing prices across the country in the first quarter of the current fiscal, Reserve Bank of India (RBI) said today.

“The Reserve Bank’s quarterly House Price Index, based on data for nine cities, indicates a Q-o-Q increase of 6.7 per cent at the national level,” the RBI macroeconomic and monetary developments report released on the eve of monetary policy announcement said.

On a year-on-year basis, the price increase has been recorded at 24.1 per cent, the report revealed.

The index takes into account price situations in nine cities — Mumbai, Delhi, Chennai, Bangalore, Ahmedabad, Lucknow, Kolkata, Jaipur and Kanpur, it said.

Housing prices in the financial capital grew at a tepid 3.1 per cent for the quarter ended June, while growth in Kolkata was the fastest, at 28.9 per cent, it said, adding Bangalore and Kanpur witnessed a fall.

Going by transaction volumes, there was a 6.4 per cent rise on a sequential basis, the quarterly index showed, while on a Y-o-Y basis it stood at 9.3 per cent, it said.

Published on October 29, 2012
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