NHB Releases NHB RESIDEX for Quarter Ended September

National Housing Bank releases the NHB RESIDEX for the Quarter that ended September 2022. The Housing Price Index (HPI) tracks the movement in prices of residential properties in selected 50 cities on a quarterly basis with FY 2017-18 as the base year. The 50 city HPI based on valuation prices of properties collected from Primary Lending Institutions (HPI @ Assessment Prices) recorded an annual increase (Y-O-Y) of 7.4% in QE September 2022 as compared with 2.7% a year ago. The annual change in HPI @ Assessment Price varied widely across the cities – ranging from an increase of 20.2% (Gandhinagar) to a decline of 2.3% (Bhiwadi). Out of the 50 cities, 46 cities registered an increase in the index whereas 4 cities registered a decline on an annual basis. All of the eight major metros of the country viz., Ahmedabad (13.9%), Bengaluru (6.0%), Chennai (11.6%), Delhi (6.7%), Hyderabad (10.9%), Kolkata (6.8%), Mumbai (2.4%) & Pune (5.0%) recorded an increase in the index on an annual basis.