Key information about House Prices Growth

• India house prices grew 2.6% YoY in Sep 2024, following an increase of 6.2% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2011 to Sep 2024, with an average growth rate of 5.1%.
• House price data reached an all-time high of 30.6% in Mar 2011 and a record low of -11.4% in Sep 2020.

CEIC calculates House Prices Growth from quarterly House Price Index. National Housing Bank provides House Price Index with base 2017-2018=100. House Prices Growth covers Mumbai only. House Prices Growth prior to Q2 2014 is calculated from House Price Index with base 2007=100.

During financial year 2024, the consumer price index (CPI) for urban housing decreased to 3.9 percent from 4.3 percent compared to the preceding financial year. However, the CPI was still lower than index value in 2020.

High Frequency Indicator: The dataset contains year-, quarter- and city-wise data on the Housing Price Index in Indian and among its various cities such as Ahmedabad, Bangalore, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, Mumbai, etc.

As of the first quarter of 2023, year-on-year real estate price increase was highest in Bengaluru and lowest in Chennai with 16.3 and 1.3 percent respectively. Followed by Bengaluru was Kochi and Delhi with an increase of 8.46 and 6.65 percent.

Graph and download economic data for Real Residential Property Prices for India (QINR628BIS) from Q1 2009 to Q3 2024 about India, residential, HPI, housing, real, price index, indexes, and price.

Key information about India Gold Production

• India Real Residential Property Price Index was reported at 152.986 2010=100 in Sep 2024.
• This records a decrease from the previous number of 157.301 2010=100 for Jun 2024.
• India Real Residential Property Price Index data is updated quarterly, averaging 157.919 2010=100 from Mar 2009 to Sep 2024, with 63 observations.
• The data reached an all-time high of 177.067 2010=100 in Jun 2019 and a record low of 88.901 2010=100 in Mar 2009.
• India Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

Housing Index in India increased to 117 points in the third quarter of 2024 from 116 points in the second quarter of 2024. This dataset provides - India NHB Residex - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the inflation rate in India from 1987 to 2023, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2023, the inflation rate in India was around 5.36 percent compared to the previous year. See figures on India's economic growth for additional information. India's inflation rate and economy Inflation is generally defined as the increase of prices of goods and services over a certain period of time, as opposed to deflation, which describes a decrease of these prices. Inflation is a significant economic indicator for a country. The inflation rate is the rate at which the general rise in the level of prices, goods and services in an economy occurs and how it affects the cost of living of those living in a particular country. It influences the interest rates paid on savings and mortgage rates but also has a bearing on levels of state pensions and benefits received. A 4 percent increase in the rate of inflation in 2011 for example would mean an individual would need to spend 4 percent more on the goods he was purchasing than he would have done in 2010. India’s inflation rate has been on the rise over the last decade. However, it has been decreasing slightly since 2010. India’s economy, however, has been doing quite well, with its GDP increasing steadily for years, and its national debt decreasing. The budget balance in relation to GDP is not looking too good, with the state deficit amounting to more than 9 percent of GDP.

India Consumer Price Index (CPI): Housing data was reported at 182.500 2012=100 in Jan 2025. This records an increase from the previous number of 181.700 2012=100 for Dec 2024. India Consumer Price Index (CPI): Housing data is updated monthly, averaging 140.400 2012=100 from Jan 2011 (Median) to Jan 2025, with 169 observations. The data reached an all-time high of 183.000 2012=100 in Nov 2024 and a record low of 87.800 2012=100 in Jan 2011. India Consumer Price Index (CPI): Housing data remains active status in CEIC and is reported by Ministry of Statistics and Programme Implementation. The data is categorized under Global Database’s India – Table IN.IB001: Consumer Price Index: 2012=100. [COVID-19-IMPACT]

India's residential house prices - quarterly and annual changes in house prices across cities, expert analysis and comparison with global peers.

House prices in Mumbai, India, have increased significantly since 2017. The housing price index tracks changes in residential home prices since 2017. In October 2023, the index stood at 124.2 index points, suggesting an increase of over 24 since the baseline year. Overall, prices experienced the strongest growth in 2023.

India Consumer Price Index (CPI): Housing: Weights: House Rent, Garage Rent data was reported at 9.510 % in Oct 2018. This stayed constant from the previous number of 9.510 % for Sep 2018. India Consumer Price Index (CPI): Housing: Weights: House Rent, Garage Rent data is updated monthly, averaging 9.510 % from Jan 2014 (Median) to Oct 2018, with 58 observations. The data reached an all-time high of 9.510 % in Oct 2018 and a record low of 9.510 % in Oct 2018. India Consumer Price Index (CPI): Housing: Weights: House Rent, Garage Rent data remains active status in CEIC and is reported by Central Statistics Office. The data is categorized under India Premium Database’s Inflation – Table IN.IA014: Consumer Price Index: 2012=100: Housing: Weights.

During the financial year 2023, the cost inflation index (CII) in India stood at 348. This was an increase from the previous year's figure of 331. The CII is used to compute an asset's inflation-adjusted cost price. It is used to assess the inflation value of assets like land, houses, jewelry etc.

Consumer Price Index (CPI): Punjab: Housing data was reported at 140.200 2010=100 in Dec 2014. This records an increase from the previous number of 137.800 2010=100 for Nov 2014. Consumer Price Index (CPI): Punjab: Housing data is updated monthly, averaging 122.150 2010=100 from Jan 2011 (Median) to Dec 2014, with 48 observations. The data reached an all-time high of 140.200 2010=100 in Dec 2014 and a record low of 100.200 2010=100 in Mar 2011. Consumer Price Index (CPI): Punjab: Housing data remains active status in CEIC and is reported by Ministry of Statistics and Programme Implementation. The data is categorized under India Premium Database’s Inflation – Table IN.IC061: Consumer Price Index: 2010=100: by State: Punjab .

In financial year 2023, banks in India advanced over 2.5 trillion Indian rupees in housing loans crossing pre-COVID levels. This reflected renewed homebuyer sentiment, as an increasing number of Indians were investing in buying residential property.

Growth of home loans market

Forty years ago, home loans were an alien concept. People would direct their provident fund savings and retirement benefits toward buying a home. However, three key institutions: HDFC, ICICI Ltd, and the State bank of India with their new lending concepts led to significant changes in the home loan market. Currently different commercial banks, NBFCs, and housing finance companies have flooded the mortgage market, and giving prospective home buyers from diverse strata of society with bargaining power and a chance at affording a home.

Inflation and home loans 

India is not untouched by global inflation. To address the problem, the Reserve Bank of India hiked the repo rate four times since April 2022 to 5.9 percent. Consequently, leading banks and housing finance companies raised their lending rates. For a prospective homebuyer, this meant a rise in tenure for home loans. In other words, equivalent monthly payments (EMIs)for homebuyers have lengthened and become more expensive. In financial year 2022, banks in India advanced around two trillion Indian rupees in housing loans almost reaching pre-COVID levels.

India Consumer Price Index (CPI): Housing: Residential Building and Land data was reported at 159.300 2012=100 in Oct 2018. This records an increase from the previous number of 158.900 2012=100 for Sep 2018. India Consumer Price Index (CPI): Housing: Residential Building and Land data is updated monthly, averaging 143.400 2012=100 from Jan 2014 (Median) to Oct 2018, with 58 observations. The data reached an all-time high of 159.300 2012=100 in Oct 2018 and a record low of 123.400 2012=100 in Jan 2014. India Consumer Price Index (CPI): Housing: Residential Building and Land data remains active status in CEIC and is reported by Central Statistics Office. The data is categorized under India Premium Database’s Inflation – Table IN.IA013: Consumer Price Index: 2012=100: Housing.

In the first half of 2023, south-central Mumbai had the highest average real estate price rate of around 35.6 thousand Indian rupees per square foot in the Mumbai metropolitan region. Peripheral central suburbs recorded the cheapest property rates.

Mumbai’s real estate market

India’s financial capital, Mumbai’s increasing population, rapid urbanization, and employment opportunities have contributed to skyrocketing property rates in the city. Its real estate market is the most expensive in India. Since the onset of the pandemic, the demand for larger units has been on the rise. In 2023, the realty market saw a surge, especially in luxury and high-end properties catering to the affluent of the city.

New metro connectivity with suburbs

As per realtors, the inauguration of new metro lines connecting the suburbs of Mumbai will provide enhanced connectivity, ease of traveling, and reduced travel time. As a result, a rise in homebuying sentiment in the city, especially in the western suburban areas is expected. The area is considered to be one of the most preferred home-buying destinations in Mumbai with Bollywood actors, non-resident Indians, and industrialists vying for properties.

RBI: Housing Price Index: 2010-11Q1=100: Chennai data was reported at 315.240 2010-2011=100 in Dec 2024. This records an increase from the previous number of 312.131 2010-2011=100 for Sep 2024. RBI: Housing Price Index: 2010-11Q1=100: Chennai data is updated quarterly, averaging 224.528 2010-2011=100 from Jun 2010 (Median) to Dec 2024, with 59 observations. The data reached an all-time high of 315.240 2010-2011=100 in Dec 2024 and a record low of 93.119 2010-2011=100 in Mar 2011. RBI: Housing Price Index: 2010-11Q1=100: Chennai data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under Global Database’s India – Table IN.EA001: Housing Price Index: Reserve Bank of India.

The market size of the real estate industry in India was valued at around 477 billion U.S. dollars in 2022 and is estimated to reach one trillion dollars by 2030. Real estate industry is forecasted to grow exponentially until 2047.

What is included in the real estate sector?

The real estate sector includes a variety of segments dealing with land and the buildings on it as well as with related resources if necessary. During the development phase of real estate projects, the construction industry is responsible for the realization. The real estate market includes all the sales and investment processes within the sector. Depending on the purpose of the building, the market is made up of the segments residential, office, commercial, or retail real estate. Sometimes housing is even used synonymously for real estate.

Importance of the real estate sector in India

Due to a stable growth in recent years and the variety of segments contributing to it, the real estate sector is perceived to be one of the main drivers for India’s economic development in upcoming years. As the Indian population is comparatively young and urbanization is continuing, the demand for housing is strong. Additionally, the office segment benefits from a strong IT-sector, while the construction-industry is one of the leading industries in India for attracting foreign direct investments. Besides its importance for the Indian market in general, the real estate sector comes second in generating employment after agriculture.

In 2024, India was the country with the highest increase in house prices since 2010 among the Asia-Pacific (APAC) countries under observation. In the first quarter of the year, the nominal house price index in India reached almost 331 index points. This suggests an increase of 231 percent since 2010, the baseline year when the index value was set to 100. It is important to note that the nominal index does not account for the effects of inflation, meaning when adjusted for inflation, price growth in real terms was slower.