1. Home
  2. Real Estate
  3. Property Prices Rise in Majority of Indian Cities: NHB Data
Property Prices Rise in Majority of Indian Cities: NHB Data
Real Estate

Property Prices Rise in Majority of Indian Cities: NHB Data

12 Jun 2023 2 Min Read CW Team
According to data by the National Housing Bank (NHB), property prices in 43 out of 50 cities have increased during the fourth quarter of 2022-23.

Although the majority of cities saw an increase, seven cities experienced a decline in property prices. The report stated that home loan rates are still lower than those before the Covid-19 pandemic, leading to overall healthy affordability.

India's eight major residential markets, including Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune, witnessed an appreciation in property prices during the January-March 2023 period. According to the Housing Price Index (HPI) published by NHB, these cities recorded annual increases ranging from 1.7 per cent in Delhi to 11 per cent in Kolkata.

The 50-city HPI, which is based on property valuations collected from banks and housing finance companies (HPI @ Assessment Prices), saw an annual increase of 5.8 per cent during the fourth quarter of FY23, compared to 5.3 per cent in the previous year.

The annual change in HPI @ Assessment Price varied significantly among cities, with Gandhinagar experiencing a 19.6 per cent increase and Ludhiana seeing a decline of 12.9 per cent.

On a quarterly basis (Q-o-Q), the 50-city index expanded by 1.3 per cent in January-March 2023, slightly lower than the 1.5 per cent growth in the previous quarter. However, the index has shown a consistent increasing trend on a quarterly basis since June 2021.

Regarding the supply side, the 50-city HPI, which is based on quoted prices for under-construction and ready-to-move unsold properties (HPI @ Market Price for Under Construction Properties), saw an annual increase of 11.7 per cent in the March quarter, compared to 4.8 per cent in the previous year.

The quoted prices have risen due to partially passing on the increased input costs and increased demand for ready-to-move-in properties, particularly in the affordable segment, the report stated.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

According to data by the National Housing Bank (NHB), property prices in 43 out of 50 cities have increased during the fourth quarter of 2022-23.Although the majority of cities saw an increase, seven cities experienced a decline in property prices. The report stated that home loan rates are still lower than those before the Covid-19 pandemic, leading to overall healthy affordability.India's eight major residential markets, including Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune, witnessed an appreciation in property prices during the January-March 2023 period. According to the Housing Price Index (HPI) published by NHB, these cities recorded annual increases ranging from 1.7 per cent in Delhi to 11 per cent in Kolkata.The 50-city HPI, which is based on property valuations collected from banks and housing finance companies (HPI @ Assessment Prices), saw an annual increase of 5.8 per cent during the fourth quarter of FY23, compared to 5.3 per cent in the previous year.The annual change in HPI @ Assessment Price varied significantly among cities, with Gandhinagar experiencing a 19.6 per cent increase and Ludhiana seeing a decline of 12.9 per cent.On a quarterly basis (Q-o-Q), the 50-city index expanded by 1.3 per cent in January-March 2023, slightly lower than the 1.5 per cent growth in the previous quarter. However, the index has shown a consistent increasing trend on a quarterly basis since June 2021.Regarding the supply side, the 50-city HPI, which is based on quoted prices for under-construction and ready-to-move unsold properties (HPI @ Market Price for Under Construction Properties), saw an annual increase of 11.7 per cent in the March quarter, compared to 4.8 per cent in the previous year.The quoted prices have risen due to partially passing on the increased input costs and increased demand for ready-to-move-in properties, particularly in the affordable segment, the report stated.

Next Story
Infrastructure Energy
16 Jan 2025

BrightNight Commissions 115 MW Hybrid Power Project in Maharashtra

BrightNight, a prominent global renewable energy producer, has launched the first phase of its 115 MW hybrid renewable energy project, Optima Maharashtra, in Dharashiv, located in southern Maharashtra. This marks one of the state’s pioneering co-located wind and solar projects and signifies BrightNight's inaugural energy supply to India's national power grid, furthering the nation's goal of decarbonising its energy sector. Spanning around 14,000 acres, the project integrates cutting-edge wind and solar technologies, powered by BrightNight’s proprietary AI-driven PowerAlpha® platform. The ..

Read More
Next Story
Infrastructure Energy
16 Jan 2025

Maha and Rajasthan Lead Solar-Powered Agriculture Under KUSUM Programme

Maharashtra and Rajasthan are leading the way in the adoption of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) programme, specifically under Component C. This component aims to scale renewable energy infrastructure, addressing both agricultural sustainability and energy security. The two states are expected to contribute over 10 GW of solar capacity under the PM-KUSUM programme by 2025. The PM-KUSUM programme consists of three key components: small-scale solar projects (Component A), the installation of standalone solar-powered pumps (Component B), and the solarisat..

Read More
Next Story
Infrastructure Energy
16 Jan 2025

Odisha Floats EPC Tender for 4 MW Solar Projects with Battery Integration

The Odisha Renewable Energy Development Agency (OREDA) has released a tender for the engineering, procurement, and construction (EPC) of 4 MW rooftop solar projects with integrated battery systems. These projects will be implemented across various locations in Odisha under a rate contract basis. Bids must be submitted by January 27, 2025, with bid opening scheduled for February 1. Bidders are required to submit a bid security of Rs 300,000 ($3,600), a bid cost of Rs 10,500 ($126), and a processing fee of Rs 1,000 ($12). The selected bidders must be responsible for designing, engineering, suppl..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

BrightNight Commissions 115 MW Hybrid Power Project in Maharashtra
POWER & RENEWABLE ENERGY
16 Jan 2025

BrightNight Commissions 115 MW Hybrid Power Project in Maharashtra

Maha and Rajasthan Lead Solar-Powered Agriculture Under KUSUM Programme
POWER & RENEWABLE ENERGY
16 Jan 2025

Maha and Rajasthan Lead Solar-Powered Agriculture Under KUSUM Programme

Odisha Floats EPC Tender for 4 MW Solar Projects with Battery Integration
POWER & RENEWABLE ENERGY
16 Jan 2025

Odisha Floats EPC Tender for 4 MW Solar Projects with Battery Integration

Odisha Issues EoI for Rooftop Solar Feasibility Survey
POWER & RENEWABLE ENERGY
16 Jan 2025

Odisha Issues EoI for Rooftop Solar Feasibility Survey

NBCC Secures Rs 35 Bn Work Order for Mixed-Use Development in Lucknow
ECONOMY & POLICY
16 Jan 2025

NBCC Secures Rs 35 Bn Work Order for Mixed-Use Development in Lucknow

Alta Cap's EcoBox Industrial Acquires Land for Logistics Development
WAREHOUSING & LOGISTICS
16 Jan 2025

Alta Cap's EcoBox Industrial Acquires Land for Logistics Development

JSW Energy Acquires KSK Mahanadi Power Plant for Rs 159.85 Bn
POWER & RENEWABLE ENERGY
16 Jan 2025

JSW Energy Acquires KSK Mahanadi Power Plant for Rs 159.85 Bn

UP Aims to Privatise Two Power Distribution Companies
POWER & RENEWABLE ENERGY
16 Jan 2025

UP Aims to Privatise Two Power Distribution Companies

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000