SDG 11: Sustainable Cities & Communities | SDG 8: Decent Work & Economic Growth
Institutions: RBI | Ministry of Housing & Urban Affairs
The Reserve Bank of India (RBI) has published the latest All-India House Price Index (HPI) for AprilβJune 2025 (Q1 FY 2025-26). The index has been updated to a new base year of 2022-23 and now tracks 18 major cities, compared to 10 earlier. This wider coverage gives a fuller picture of housing trends across India. The data show that house prices rose by 3.6 % over the past year and by 2 % since the previous quarter, with the sharpest quarterly increases seen in Nagpur, Chandigarh, Chennai, and Kochi.
Compared to the same quarter in the previous year, when HPI rose by 7.6 %, the current growth is far more modest. The moderation suggests cooling pressures in real estate, even as prices continue to rise. The expanded city coverage (adding Hyderabad, Pune, Thane, etc.) provides a broader and more nuanced picture of housing trends.
Slower growth in housing prices gives the government space to make homes more affordable, for instance, by offering cheaper loans or tax benefits, without risking a property bubble. With more cities now covered, policymakers can focus on fast-growing areas like Pune and Hyderabad. Since real estate forms a big part of household wealth, keeping price increases steady also helps avoid speculation and financial instability.
What is the House Price Index (HPI)? β The HPI tracks changes in the residential property market using transaction data from registration authorities.
Follow the full update here:
Press Release: All-India HPI Q1 2025-26 β RBI