Kochi records highest appreciation in housing price among major cities

New Delhi: Kerala's commercial hub Kochi recorded the biggest leap in housing prices among the top 10 cities in the past one year, reveals Reserve Bank of India's quarterly data. While the increase was 2.79% at the national level, the rise in house prices in Kochi was 7.15%.

The index is based on the housing sales in 10 important cities, including Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.

Kochi is the only city in Kerala included in the RBI data.

While there was an increase of 7.15% in Kochi this year, there was a drop of 8.9% in prices in Jaipur. At 5.2%, Ahmedabad recorded the second highest increase in prices after Kochi.

The RBI releases the housing price index every quarter based on transaction-level data received from the registration authorities in ten major cities. Time series data on all India and city-wise HPIs are available at the Bank’s database on Indian economy (DBIE) portal.

HOUSING PRICE INDEX: TOP-10 CITIES

· Kochi: 7.15%

· Ahmedabad: 5.2%

· Bengaluru: 4.81%

· Kanpur: 3.52%

· Chennai: 2.9%

· Kolkata: 2.73%

· Delhi: 2.7%

· Mumbai: 2.35%

· Lucknow: 0.93%

· Jaipur: -8.9%

National average: 2.73%

The figures are for the third quarter of the 2022-23 financial year.

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