Growth in housing price rise moderates, says RBI
The rate of increase in property prices has moderated on a year-on-year basis for the quarter ended March 2016 as per the latest quarterly Housing Price Index (HPI) for All-India and 10 major cities report of RBI.
The central bank has recently unveiled report on housing prices of 10 major cities namely-- Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi.
All India-Housing Price Index (HPI) in the fourth quarter (Q4) of FY16 registered a growth of 223.2% as compared to 221.7% in the third quarter (Q3) of FY16, the Reserve Bank of India (RBI) said in its report.
According to RBI, only four big cities-- Bengaluru, Chennai, Lucknow and Delhi-- have recorded rise in housing prices at the end of financial year 2015-16 (FY16).
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