RBI's House Price Index : Up 6.7% in first quarter of 2012-13..!


There has been a 6.7% growth in housing prices across the country in the first quarter of the current fiscal (2012-13), RBI (Reserve Bank of India) said recently.

House Price Index..!

 RBI macroeconomic and monetary developments report released on the eve of monetary policy announcement said, "The RBI's quarterly House Price Index ((HPI) , based on data for 9 cities, indicates a Q on Q increase of 6.7% at the national level,"

On a year-on-year basis, the price increase has been recorded at 24.1%

The House Price Index takes into account price situations in 9 cities - Mumbai, Delhi, Chennai, Bangalore, Ahmedabad, Lucknow, Kolkata, Jaipur & Kanpur..

Housing prices in the financial capital (Mumbai) grew at a tepid 3.1% for the quarter ended June, 2012 while growth in Kolkata was the fastest, at 28.9%, adding Bangalore & Kanpur witnessed a fall.

Going by transaction volumes, there was a 6.4% rise on a sequential basis, the quarterly index showed, while on a YonY basis it stood at 9.3%..

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