The National Housing Bank has released the NHB RESIDEX for the Quarter ending December 2022. NHB’s Housing Price Index (HPI) tracks the price movement for residential properties in 50 select cities on a quarterly basis with FY 2017-18 as the base year.
The index is formulated on the basis of valuation prices of properties collected from Primary Lending Institutions (HPI @ Assessment Prices). The latest HPI recorded an annual increase of 7.1% in QE December 2022, as compared with 4.5% a year ago.
The change varied widely across the index cities. The range was from a surge of 21.4% in Gujarat’s Gandhinagar to a dip of 11.6% in Ludhiana. 44 out of the 50 cities saw an increase. 6 recorded decline. The index reported surge in prices in India’s eight major metros:
– Ahmedabad: 14.4%
– Bengaluru: 8.0%
– Chennai: 8.7%
– Delhi: 1.8%
– Hyderabad: 10.2%
– Kolkata: 7.4%
– Mumbai: 4.4%
– Pune: 7.2%
