Housing prices rose in 42 cities in the first quarter of 2022-23, while the rates of residential units fell in five cities and remained stable in three cities, according to the price index Residex released by NHB.
All the eight major metros recorded an increase in the index on an annual basis -- Ahmedabad (13.5 per cent), Bengaluru (3.4 per cent), Chennai (12.5 per cent), Delhi (7.5 per cent), Hyderabad (11.5 per cent), Kolkata (6.1 per cent), Mumbai (2.9 per cent) and Pune (3.6 per cent), National Housing Bank (NHB) Residex said.
On a sequential basis, the 50-city index registered an expansion of 1.7 per cent in April-June 2022 against 2.6 per cent in the previous quarter, it said, adding the index is showing an increasing trend on a quarter-on-quarter basis since June 21.
The annual change in HPI at Assessment Price varied widely across the cities – ranging from an increase of 16.1 per cent (Coimbatore) to a decline of 5.1 per cent (Navi Mumbai).
The housing Price Index (HPI) tracks the movement in prices of residential properties in select 50 cities on a quarterly basis with FY 2017-18 as the base year.
The 50-city HPI at Market Price for under-construction properties computed using the quoted prices for under-construction and ready-to-move unsold properties, also recorded an annual increase (year-on-year) of 5.7 per cent in the quarter ended June 2022 against 1.9 per cent a year ago, backed by the rising cost of building materials.
