Housing costs choose up in September quarter

Housing costs are choosing up regularly throughout India if the newest residence value index calculated by the Reserve Bank of India (RBI) is any indication. While housing costs in Mumbai, Kolkata and Chennai rose within the September quarter of FY22, in Delhi and Bengaluru it fell.
The RBI’s All-India HPI recorded 2.6 per cent progress (y-o-y) within the September quarter of 2021-22 as in contrast with 2.0 per cent progress within the earlier quarter and 1.1 per cent a yr in the past, the RBI mentioned. In absolute phrases, on a sequential foundation, the all-India index declined to 285.7 in Q2 of FY22 from 287 within the first quarter and 278.5 within the Q2 of final yr.

The RBI launched its quarterly home value index (HPI) — base: 2010-11=100 — for Q2 of 2021-22, based mostly on transaction-level knowledge obtained from housing registration authorities in 10 main cities.
Home value index in Mumbai rose to 279.8 within the September quarter from 265.9 within the year-ago quarter and 263 in Q1 of final yr. Kochi index rose to 297.2 in Q2 from 287.3 in Q1. Delhi, Bengaluru and Ahmedabad recorded a sequential decline in HPI. In Delhi, HPI declined to 299.3 from 315 within the Q1 and 329.4 a yr in the past. Bengaluru HPI fell to 313.2 in Q2 of FY22 from 333.7 in Q1.