Homes became costlier in 43 cities in the first quarter, prices declined in seven

Houses have become expensive in the first quarter of 2023-24 in 43 cities of the country. The prices of residential units have decreased in seven cities. National Housing Bank (NHB) gave this information on Wednesday.

The regulator of housing finance companies said that according to the NHB House Price Index, home loan rates are still lower than pre-pandemic levels. Property prices in Ahmedabad increased by 9.1 percent during this period. Bangalore saw an increase of 8.9 percent and Kolkata 7.8 percent.

According to the House Price Index, house prices increased by 1.1 percent in Chennai, 0.8 percent in Delhi, 6.9 percent in Hyderabad, 2.9 percent in Mumbai, and 6.1 percent in Pune.

The HPI of 50 cities, based on assessed values of properties collected from banks and housing finance companies, grew by 4.8 percent annually during the first quarter of 2023-24. A year ago this figure was seven percent. The highest growth of 20.1 percent was in Gurugram during this period. While the maximum decline was observed in Ludhiana (19.4 percent).