Now Reading: India house price growth slows to 3.6% in Q1 FY27, RBI data shows
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India house price growth slows to 3.6% in Q1 FY27, RBI data shows
Residential property prices across India rose just 3.6% year-on-year in the first quarter of FY27, slowing from 4.5% in the previous quarter, the Reserve Bank of India’s All-India House Price Index shows.…
Residential property prices across India rose just 3.6% year-on-year in the first quarter of FY27, slowing from 4.5% in the previous quarter, the Reserve Bank of India’s All-India House Price Index shows. The index rose to 117.5 from 116.2 in Q4 FY26, a quarter-on-quarter increase of 1.1%.
The RBI attributed the annual growth primarily to Chandigarh, Jaipur, Kanpur, Lucknow and Thiruvananthapuram. The quarter-on-quarter rise was driven by Chandigarh, Lucknow and Thiruvananthapuram. The index, compiled from transaction-level registration data across 18 cities with 2022, 23 as the base year, covers Mumbai, Delhi, Bengaluru, Chennai, Kolkata, Hyderabad, Pune, Ahmedabad and other major markets.
While prices are still rising, the slower annual pace suggests the sharp momentum in some housing markets has eased. The 3.6% annual growth in Q1 FY27 is unchanged from the corresponding quarter of FY26.
Indian Opinion Analysis
The RBI’s All-India House Price Index uses 2022, 23 as its base year and tracks only registered transactions across 18 major cities. Because it excludes cash deals and under-reporting common in property registrations, the official 3.6% growth may understate actual market heat in smaller cities and semi-urban areas that are not in the index. The unchanged annual rate for two years in a row suggests the supply of new housing is roughly matching demand at current prices, rather than a sharp slowdown. The next quarterly reading, due in roughly three months, will show whether the weight of cities like Mumbai, Delhi and Bengaluru, which together make up more than half of the index, pulls the national figure lower or holds it steady.
Source: timesofindia.indiatimes.com
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