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According to RBI's quarterly House Price Index rose 6.7% on quarterly basis and a whopping 24.1% on yearly basis
Mumbai: There has been a 6.7% growth in housing prices across the country in the first quarter of the current fiscal, Reserve Bank of India (RBI) said, reports PTI.
"The Reserve Bank's quarterly House Price Index, based on data for nine cities, indicates a Q-o-Q increase of 6.7% at the national level," the RBI macroeconomic and monetary developments report released on the eve of monetary policy announcement said.
On a year-on-year basis, the price increase has been recorded at 24.1%, the report revealed.
The index takes into account price situations in nine cities - Mumbai, Delhi, Chennai, Bangalore, Ahmedabad, Lucknow, Kolkata, Jaipur and Kanpur, it said.
Housing prices in the financial capital grew at a tepid 3.1% for the quarter ended June, while growth in Kolkata was the fastest, at 28.9%, it said, adding Bangalore and Kanpur witnessed a fall.
Going by transaction volumes, there was a 6.4% rise on a sequential basis, the quarterly index showed, while on a Y-o-Y basis it stood at 9.3%, it said.