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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.
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