- India's residential property prices rose 3.6% year-on-year in Q1 FY27, RBI data shows
- The All India House Price Index reached 117.5 in June, up 1.1% from the previous quarter
- Price gains were notable in Chandigarh, Jaipur, Kanpur, Lucknow, and Thiruvananthapuram
India's residential property market continued to expand in the first quarter of FY27, although the pace of annual house price growth moderated from the previous quarter, according to Reserve Bank of India (RBI).
The RBI's All India House Price Index (HPI) rose 3.6% year-on-year in Q1 FY27, compared with a 4.5% increase recorded in the previous quarter, ANI reported. The latest growth rate, however, matched the increase reported in the corresponding quarter of the previous financial year.
The All India HPI stood at 117.5 during the June quarter, marking a 1.1% increase from the previous quarter. The index was at 116.2 in Q4 FY26 and 113.4 in Q1 FY26.
According to the central bank, the annual movement was supported mainly by housing price increases in Chandigarh, Jaipur, Kanpur, Lucknow and Thiruvananthapuram.
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On a sequential basis, the 1.1% rise in the index was primarily driven by higher readings in cities including Chandigarh, Lucknow and Thiruvananthapuram.
The RBI compiles the House Price Index every quarter using transaction-level information received from property registration authorities. The index uses 2022-23 as its base year and tracks residential property prices across 18 major cities.
The cities covered by the index include Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur, Kochi, Hyderabad, Thiruvananthapuram, Pune, Ghaziabad, Thane, Gautam Buddha Nagar, Chandigarh and Nagpur.
The HPI provides an indicator of changes in residential property prices based on registered housing transactions across these markets.
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The latest figures indicate that house prices continued to increase across the cities tracked by the RBI during the June quarter. However, the overall annual growth rate slowed compared with the preceding three months.
The moderation suggests that while the housing market maintained its upward movement in the first quarter of FY27, the pace of price appreciation was more measured than in the previous quarter.
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