Property Prices Surge Across Indian Cities: NHB Report
A recent report by the National Housing Bank reveals a rise in property prices across 48 out of 50 cities in India for the quarter ending March 2025. The Housing Price Index recorded a 7.5% annual increase driven by growth in key markets like Bengaluru and Chennai. Interest rates on home loans also saw a slight decline.
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In a striking revelation, the National Housing Bank reported that 48 of 50 Indian cities saw a rise in property prices during the last quarter of the fiscal year 2024-25. The data, drawn from the NHB's latest release, highlighted a robust annual increase of 7.5% in residential property values according to the Housing Price Index.
The report further detailed that only Howrah and Thiruvananthapuram experienced declines, while cities like Bengaluru and Chennai recorded significant growth. The index illustrates a consistent upward trend since September 2021, marking a 1.9% increase in the January-March 2025 quarter alone.
In an economic boost for potential homebuyers, the Reserve Bank of India's decision to cut the repo rate by 25 basis points led to a moderation in home loan interest rates – a welcome move after five years without rate reductions.
(With inputs from agencies.)
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