Indian House Price Index Growth Slows in Major Cities

The All-India House Price Index (HPI) grew by 2.2% in Q2 of fiscal 2025-26, slowing from 7% the previous year. This report, released by the Reserve Bank of India, shows significant contributions from Nagpur, Ghaziabad, and Chandigarh, but a decline in Kolkata, Chennai, and Lucknow.

The Reserve Bank of India's latest data indicates a deceleration in the growth of the All-India House Price Index (HPI), with a 2.2% increase in the second quarter of fiscal 2025-26, compared to 7% in the same period last year.

This slowdown is attributed to a decrease in house prices in major urban centers such as Kolkata, Chennai, and Lucknow. In contrast, cities like Nagpur, Ghaziabad, and Chandigarh have shown an upward trend, contributing positively to the HPI.

The HPI, now set to a base year of 2022-23, reflects quarterly data from 18 major cities, compiled by the RBI from registration authorities nationwide. The index experienced a quarter-on-quarter drop of 0.6%, primarily due to declining numbers in key cities.

(With inputs from agencies.)