In the first quarter of 2022-23, the all-India house price index (HPI) rose by 3.5% year-on-year, according to Reserve Bank of India data.

Over the January-March and April-June quarters of 2021-22, the HPI grew by 1.8% and 2.2%, respectively.

A House Price Index (HPI) looks at how the prices of homes have changed as a percentage since a certain date

There was a wide variation in year-on-year movements in HPI between cities, ranging from an increase of 16 percent in Kolkata to a contraction of 4 percent in Bengaluru.

A sequential increase of 2.2% was recorded in the first quarter of 2022-23 in the HPI for all of India. In Delhi, Kolkata, and Jaipur, the index declined sequentially, while in the other cities, it increased.

A quarterly house price index (HPI) is published by the central bank based on transaction-level data provided by housing registration authorities in 10 major cities. Among the cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.