Real Estate

All India House Price Index up 3.1 per cent in Q3FY’22

BL Mumbai Bureau | Updated on: Feb 28, 2022

NEW DELHI, October 31, 2013: Since the new historic Land Acquisition Act 2012, will come into force from January 1, 2014. Developers and real estate agencies are fearing that land acquisition would be very combersome process afterward and the prices of land would increase substantially thus impacting the cost of housing. Here is the scene of Luxury Appartments The Forest Spa, located in sector 93B in Noida Expressway, which connects Noida to Greater Noida.The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Law, 2012, replaces 119 yrs old British-era law of 1894. It provides for fair compensation to owners whose land is taken over, brings transparency to the process and lays down measures for rehabilitation of those displaced. October 31, 2013. Photo: Rajeev Bhatt | Photo Credit: RAJEEV BHATT

Delhi records the highest sequential growth of 9.5 per cent.

The All India House Price Index (HPI) recorded an annual growth (y-o-y) of 3.1 per cent in Q3 (October-December 2021-22) as compared with 2.4 per cent in the previous quarter and 2.2 per cent a year ago.

HPI growth varied widely across the cities - ranging from an increase of 19.8 per cent (Kochi) to a decline of 4.1 per cent (Chennai), according to a Reserve Bank of India (RBI) statement.

The central bank noted that while Chennai and Kanpur recorded sequential decline in HPI during the current quarter, the index increased for the remaining cities with Delhi recording the highest sequential growth of 9.5 per cent.

The HPI is based on transaction-level data received from housing registration authorities in ten major cities -- Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.

Published on February 28, 2022
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