Housing Prices Increase In Slower Pace

08 May, Mumbai

Housing prices increased by 61 per cent in the last four and half years, but the inflation on this count has declined to four-year low to below four per cent , according to a survey done by the Reserve Bank of India.
“The housing market witnessed an upward trend in prices during the past four and half years, as evident from the steady rise in RPPI (Residential Property Price Index) from 107 in first quarter of 2010-11 to 172 in third quarter of 2014-15, an increase of almost 61 per cent,” the survey found.

The RBI survey covered 13 major cities and analysed data relating to housing loans in 35 commercial banks and housing finance companies.
The maximum price rise was witnessed in Jaipur (78 per cent ) and Hyderabad was at the lower level at 40 per cent.