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Kochi sees highest rise in real estate prices in 2018: RBI
The Indian Express  |  May 30, 2019

ENS Economic Bureau Mumbai

Real estate prices in Kochi jumped the most during the 12 months ended December 2018. HPI for Kochi for the quarter ended December 2018 rose by 8.48 per cent to 298 from 274.7 in the September quarter on a sequential basis.

 

The All India House Price Index (HPI) of top cities in India, calculated by the Reserve Bank of India, increased by 1.12 in the December quarter from the preceding quarter and 4.66 per cent for the full year 2018.

 

Real estate prices in Kochi jumped the most during the 12 months ended December 2018. HPI for Kochi for the quarter ended December 2018 rose by 8.48 per cent to 298 from 274.7 in the September quarter on a sequential basis. On a yearly basis, HPI for Kochi soared by 28.83 per cent from 231.3 from December 2017, as per the RBI HPI Index.

 

HPI for Mumbai rose by 0.90 per cent to 266.3 in the December quarter from the September quarter and 3.47 per cent in full year of 2018. In Delhi, HPI was up by 1.34 per cent in the December quarter and by 3.30 per cent for full year 2018. Bengalaru HPI fell by 1.05 per cent to 243.2 during the December quarter but rose 7.80 per cent during the year 2018, the RBI data said.

 

“Large variation in HPI growth across cities was observed, with Kochi recording the highest rise and Jaipur recording the maximum contraction of -3.1 per cent,” the RBI said, with reference to quarterly figures.

 

On a year-on-year basis, the all-India HPI recorded a growth of 4.66 per cent in Q3 of 2018-19 as against 5.7 per cent in the previous quarter and 7.2 per cent a year ago. “Except Kanpur, all other cities recorded a rise in housing prices on an annual basis,” the central bank said.

 

“The annual growth/contraction in HPI ranged from 28.8 per cent (in Kochi) to -6.5 per cent (in Kanpur), indicating large divergences in city-wise housing price movements,” it added.

 

The RBI’s HPI (base: 2010-100) is based on transactions data received from housing registration authorities in ten major cities, namely Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.