House prices (HPI)
HPI = House Price Index- How often
- Every quarterQuarterly, about eight weeks after the quarter
- Last released
- 24 Aug 2026Q1 2026-27 (Apr–Jun 2026)
- Base year
- 2022-23 = 100
April–June 2026, down from 4.2% in January–March 2026.
Events on this chart
Source: RBI, released 24 Aug 2026 · Chart: Clarity UPSC
- Previous
- 4.2%Q4 2025-26 (Jan–Mar 2026)
- Highest
- 6.9%Q3 2024-25 (Oct–Dec 2024)
- Lowest
- 3.6%Q1 2025-26 (Apr–Jun 2025)
6 readings since Q3 2024-25 (Oct–Dec 2024).
Story
How fast home prices in 18 cities are rising, from registration data.
What is happening now As of Q1 2026-27 (Apr–Jun 2026)
House prices in 18 cities were 3.6% higher in April–June 2026 than a year earlier, the same annual rise as in the same quarter of 2025. The Reserve Bank of India (RBI) said Chandigarh, Jaipur, Kanpur, Lucknow and Thiruvananthapuram contributed most to the annual rise.
Compared with the previous quarter, the all-India House Price Index (HPI) rose 1.1% to 117.5, mainly because of rises in Chandigarh, Lucknow and Thiruvananthapuram.
Why it matters
A home is the largest purchase most families make. When house prices rise faster than incomes, first-time buyers must save longer or borrow more, while owners see the value of their homes grow.
Banks lend against homes as security, so house prices matter for the safety of housing loans. Builders, buyers and lenders also compare the city indices to see where markets are rising and where they are flat.
What it is
The House Price Index (HPI) of the Reserve Bank of India (RBI) follows the prices at which homes are sold in 18 major cities. The RBI builds it from transaction-level records of property registrations, which it receives from the registration authorities.
The index is quarterly, with base 2022-23 = 100. Since October 2025 it covers Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur, Kochi, Hyderabad, Thiruvananthapuram, Pune, Ghaziabad, Thane, Gautam Buddha Nagar, Chandigarh and Nagpur. The all-India index brings the city indices together.
City markets often move differently, and each release names the cities that drove the all-India change. The housing index of the Consumer Price Index (CPI) follows rents, repairs and water charges that households pay. The HPI tracks the price of homes themselves.
Read this number
- The publisher
- The Reserve Bank of India is India's central bank. It manages money supply, bank regulation, the rupee and the country's foreign exchange reserves.
Terms on this page (2)
- CPI
- Consumer Price Index
- RBI
- Reserve Bank of India
History
- 2007The Reserve Bank of India (RBI) begins compiling a house price index, starting with a quarterly index for Mumbai on base 2002-03.
- 2014The quarterly index covers ten cities on base 2010-11, built from state registration data.
- 9 Oct 2025Base revised to 2022-23. Eight cities join, taking coverage to 18.
Readings
| Period | Value | Status | Released |
|---|---|---|---|
| Q1 2026-27 (Apr–Jun 2026) | 3.6% | Final | 24 Aug 2026 |
| Q4 2025-26 (Jan–Mar 2026) | 4.2% | Final | 29 May 2026 |
| Q3 2025-26 (Oct–Dec 2025) | 3.6% | Final | 25 Feb 2026 |
| Q1 2025-26 (Apr–Jun 2025) | 3.6% | Final | 24 Aug 2026 |
| Q4 2024-25 (Jan–Mar 2025) | 3.8% | Final | 29 May 2026 |
| Q3 2024-25 (Oct–Dec 2024) | 6.9% | Final | 25 Feb 2026 |
For UPSC
Know that the Reserve Bank of India (RBI) compiles the House Price Index (HPI) every quarter from property registration data: base 2022-23, 18 cities since October 2025. House purchase prices sit outside the Consumer Price Index (CPI), whose housing index follows rents.