Mumbai: Data released by the Reserve Bank of India (RBI) revealed that the all India house price index (HPI) surge by 3.5% year-on-year in the first quarter of 2022-23. The surge in the HPI was 1.8% during January-March and 2% in the April-June quarter of 2021-22.
HPI gained by 16% in Kolkata. It slipped down by 4% in Bengaluru. All India HPI increased by 2.2% in the first quarter of 2022-23. Delhi, Kolkata, and Jaipur recorded sequential contraction in the index and it surged in the remaining cities.
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RBI releases its quarterly house price index (HPI) based on transaction-level data received from the housing registration authorities in 10 major cities. The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.
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