India's Housing Market Rebounds: HPI Surges Amid City Variations

The All-India House Price Index rose by 4.3% annually in Q2 of the 2024-25 fiscal year. This is an increase from the previous quarter's 3.3%. The growth varied among ten major cities, with Bengaluru showing the highest increase and Kanpur experiencing a decline.

The All-India House Price Index (HPI) surged by 4.3% on an annual basis in the second quarter of the 2024-25 fiscal year, according to the latest data from the Reserve Bank of India (RBI). This reflects an uptick compared to the previous quarter's growth of 3.3% and 3.5% recorded a year earlier.

The RBI's quarterly report, based on transaction-level data from registration authorities across ten major cities, revealed diverse house price trends. While Bengaluru experienced a robust growth of 8.8%, Kanpur saw a remarkable decline of 2%.

Despite this annual growth, the all-India HPI exhibited a minuscule quarterly drop of 0.1% in the July-September period. Cities like Ahmedabad, Lucknow, Kolkata, and Chennai, however, recorded sequential increases, signaling varying dynamics in the housing sector.

(With inputs from agencies.)