Mumbai: According to the National Housing Bank (NHB), the housing prices rose in 42 cities in the first quarter of 2022-23. Residex released by NHB has revealed this. As per the Residex, the rates of residential units fell in 5 cities and remained unchanged in 3 cities.
According to the data, the rates of residential units increased on an annual basis in 8 major cities- Ahmedabad (13.5%), Bengaluru (3.4%), Chennai (12.5%), Delhi (7.5%), Hyderabad (11.5%), Kolkata (6.1%), Mumbai (2.9%) and Pune (3.6%).
On a sequential basis, the 50-city index registered an expansion of 1.7% in April-June 2022. It was at 2.6% in the previous quarter. The index also reported an increasing trend on a quarter-on-quarter basis since June 21.
The housing Price Index (HPI) tracks the movement in prices of residential properties in select 50 cities on a quarterly basis with FY 2017-18 as the base year.