House price index rose 2.2% year-on-year in second quarter: RBI

The all-India housing price index (HPI), based on transactions in 18 major cities, grew at a slow pace of 2.2% in the second quarter of the current financial year, compared with 7% in the year-ago period, according to Reserve Bank data released on Thursday.

The Reserve Bank of India (RBI) compiles the quarterly HPI based on transaction-level data received from registering authorities.

The central bank released its HPI for the second quarter of 2025-26 with a new base year of 2022-23. Earlier the base year was 2010-11.

“The all-India HPI recorded an annual growth (year-on-year) of 2.2% in Q2:2025-26, compared to 7% in the same quarter a year ago. Cities such as Nagpur, Ghaziabad and Chandigarh contributed to the rise in the HPI,” the RBI said.

The value of House Price Index declined from 113.4 to 112.7 in Q2:2025-26 as compared to Q1:2025-26, due to reduction in index in major cities, namely Kolkata, Chennai, Lucknow and Hyderabad.

On a quarter-on-quarter basis, the index declined 0.6%, with Kolkata, Chennai and Lucknow contributing the bulk.

The 18 cities covered by RBI are Mumbai, Delhi, Chennai, Kolkata, Bangalore, Lucknow, Ahmedabad, Jaipur, Kanpur, Kochi, Hyderabad, Thiruvananthapuram, Pune, Ghaziabad, Thane, Gautam Buddha Nagar, Chandigarh and Nagpur.