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Housing Price Index Registers Modest Increase PAN India
RERA, GST and demonetisation did not led the real estate sector further reel in the slowdown as the all India HPI reports a modest increase for the Q1 of 2017-18.
The RBI on Tuesday released the housing price index or HPI for the first quarter for the financial year 2017-18 based on the input given by housing registration department from 10 major cities that include Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Mumbai, Kolkata and Lucknow.
/img/2017/10/re4-25-1508917152.jpg "Housing Price Index Registers Modest Increase PAN India")
Of the 10 cities, the price index rose in 8 of the cities with a sequential rise to the tune of 3.8% in comparison to the corresponding quarter last year. On a city level, Delhi reported the highest variance with a rise in prices by 9.4% and the prices contracted sharply in Kochi that witnessed a fall of 9.2%.
Despite the slowdown in the realty sector, all cities other than Chennai and Kochi witnessed a surge in prices. Price movements were sharp across cities from a high in annual HPI of 18.2% in Kanpur and a decline of 11.2% in Chennai.
Year on Year Pan India HPI grew at a moderate rate of 8.7% for the Q1 of 2017-18.
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