Real Estate Price Hike: Buying a house in Delhi and Mumbai has now become more expensive than before, but property prices have declined in some cities of the country.
Housing Prices Hike: After the Covid pandemic, property prices in the country have increased rapidly. Buying a house has become more expensive in many cities of the country including Delhi.
According to the June quarter data released by the Reserve Bank, the trend of increasing housing prices in India continues. An increase of 5.1 percent has been recorded in the All India Home Price Index (HPI) in this quarter, which has increased to 311.9. In the June quarter of the last financial year it was at 296.6.
Property became expensive in these cities along with Delhi
According to the Economic Times report, property prices have increased the most in the capital Delhi (Delhi Property Prices). An increase of 14.9 percent has been recorded in HPI in the capital Delhi in the quarter of June 2023. In this list, the name of the financial capital Mumbai is at the second position. After Delhi, property prices have increased the most in Mumbai (Mumbai Property Prices).
On a year-on-year basis, there has been an increase of 7.6 percent in property prices in the June quarter. In the IT city Bengaluru, property has become expensive by 5 percent in the last one year. Lucknow is at fourth place in this list. There has been an increase of 4.5 percent in property prices year on year. Prices have increased by 2.5 percent in Kanpur and 2 percent in Chennai as compared to the last quarter.
Property prices decreased in these cities
While there has been an increase in property prices in cities like Delhi, Mumbai, Chennai, there has been a huge decline in property prices in Kolkata. There has been a huge decline of 6.6 percent in the prices of houses in the last one year. In the last quarter, property prices here had declined by 8.2 percent.
An increase of 2.2 percent has been recorded in property prices in Jaipur, Rajasthan. At the same time, property in Ahmedabad has become cheaper by 2.1 percent. If seen on an annual basis, an increase of 2.6 percent has been recorded in HPI in eight out of 10 cities.
