Noida, Aug 26 (APAC Media): House prices in India continued to rise in the first quarter of the current financial year, but the pace of growth moderated, with the Reserve Bank of India’s (RBI) All-India House Price Index (HPI) recording a 3.6 per cent year-on-year increase.
The growth was lower than the 4.5 per cent recorded in the previous quarter, suggesting some moderation in the pace of price appreciation across the housing market.
The RBI said the annual growth in house prices was driven mainly by cities such as Chandigarh, Jaipur, Kanpur, Lucknow and Thiruvananthapuram.
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“The HPI registered an annual growth of 3.6 per cent in Q1:2026-27, the same as in Q1 of the previous year, mainly contributed by the cities such as Chandigarh, Jaipur, Kanpur, Lucknow and Thiruvananthapuram,” the central bank said.
On a sequential basis, however, the housing market continued to move higher. The All-India HPI rose 1.1 per cent in the April-June quarter to 117.5, compared with 116.2 in the previous quarter.
The index stood at 113.4 in the first quarter of 2025-26.
“The All India HPI increased by 1.1 per cent and stood at 117.5 in Q1:2026-27 compared to the previous quarter, primarily driven by an increase in the index for cities such as Chandigarh, Lucknow, and Thiruvananthapuram,” the RBI said.
The latest numbers indicate that the housing market has not entered a broad-based decline, but price appreciation has become more moderate. The contrasting annual and quarterly trends also underline the differences in housing-market performance across cities.
While some markets continued to see relatively strong price gains, others recorded more subdued movements during the quarter.
The RBI’s house price index is based on transaction-level data received from property registration authorities. The central bank compiles the index on a quarterly basis to track movements in residential property prices.
The current HPI uses 2022-23 as the base year and covers transactions across 18 major cities, including Mumbai, Delhi, Bengaluru, Chennai, Kolkata, Hyderabad, Pune, Ahmedabad, Jaipur, Lucknow and Chandigarh.
For homebuyers, the latest data suggests that prices are still moving upward nationally, although the pace of appreciation is slower than in the previous quarter. For developers and investors, the varying performance across cities highlights the importance of local market conditions.
Overall, the RBI data points to a housing market that remains resilient but is entering a period of more measured price growth, with select cities continuing to outperform the national trend.
–ENDS–
Disclaimer: This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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