Today, the Reserve Bank released its quarterly house price index (HPI) for Q3:2022-23, based on transaction-level data received from the registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai).
All India HPI recorded 2.8% growth (y-o-y) in Q3:2022-23 as compared with 3.1% a year ago; the y-o-y movements in HPI varied widely across the cities – ranging from a growth of 7.1% (Kochi) to a contraction of 9.0% (Jaipur).
On a sequential (q-o-q) basis, all India HPI increased by 1.3% in Q3:2022-23; while Lucknow, Kolkata, and Jaipur recorded sequential contraction in the index, it rose for the remaining cities.
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