New Delhi, May 24 Property prices rose in 48 out of 50 cities during the fourth quarter of 2024-25, according to data released by the National Housing Bank (NHB).
Out of the 50 cities covered, two cities, Howrah and Thiruvananthapuram, recorded a decline in property prices, the latest NHB RESIDEX residential housing price index said.
The 50-city housing price index (HPI), based on assessed values of properties collected from banks and housing finance companies, recorded an annual growth of 7.5 percent during the fourth quarter of 2022-24-25, compared to 5.1 percent a year ago.
It said property prices increased across eight major primary residential markets during January-March 2025.
According to the housing price index published by the NHB, prices in Ahmedabad rose by 6.1 percent, Bengaluru (13.1 percent), Chennai (9 percent), Delhi (2.9 percent), Hyderabad (4.8 percent), Kolkata (9.6 percent), Mumbai (5.9 percent) and Pune (6.8 percent).
On a quarter-on-quarter basis, the 50-city index recorded an expansion of 1.9 percent in January-March 2025. The index has shown an upward trend on a quarter-on-quarter basis since September 2021.
Meanwhile, interest rates on home loans fell by 25 basis points in February 2025 when the RBI reduced the repo rate by 25 basis points, the first rate cut in 5 years.
