Prices of Housing in major cities went up by 2.7 per cent last year

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Prices of Housing in major cities in the country went up by 2.7 per cent last year, despite the pandemic. Reserve bank of India yesterday released quarterly house price index (HPI) for the last quarter of Financial year 2020-2021. It is based on transaction level data received from housing registration authorities in Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai these ten major cities.

In FY 2020-21, all India HPI increased by 2.7 per cent vis-a-vis 3.9 per cent growth in FY 2019-20. In Bengaluru HPI increased by 15.7 percent while it contracted by 3.6 per cent in Jaipur. On a quarter on quarter basis, all-India HPI growth rate moderated to 0.2 per cent in Q4 of 2020-21. Delhi, Bengaluru, Kolkata and Jaipur recorded a decline in HPI, whereas it increased for other cities.