India’s eight key primary residential markets witnessed appreciating property prices during the January-March 2023 period, National Housing Bank’s housing price index showed. Of the 50 cities covered, 43 registered an increase in property prices, whereas seven cities registered a decline in property prices. Raipur recorded a maximum decline of 6.7% due to projects launched by Raipur Municipal Corporation for the EWS and LIG Category). The annual variation in HPI @ Market Price ranged from an increase of 47.6 per cent (Lucknow) to a contraction of 4.1 per cent (Rajkot & Panvel). On a sequential (Q-o-Q) basis, the 50 city Index witnessed an increase of 2.6 per cent during the quarter compared to 3.1 per cent in previous quarter.

Source: The Hindu June 08, 2023 10:38 UTC