Document title: All‑India House Price Index for Q1:2026‑27
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release: 2026‑2027/958
Date: August 24, 2026
Macroeconomic Outlook
The Reserve Bank of India released the All‑India House Price Index (HPI) for the first quarter of the 2026‑27 financial year, using transaction‑level data from registration authorities. The index uses 2022‑23 as the base year and covers eighteen major cities: Mumbai, Delhi, Chennai, Kolkata, Bangalore, Lucknow, Ahmedabad, Jaipur, Kanpur, Kochi, Hyderabad, Thiruvananthapuram, Pune, Ghaziabad, Thane, Gautam Buddha Nagar, Chandigarh and Nagpur.
In the quarter, the All‑India HPI increased by 1.1 % quarter‑on‑quarter, reaching a level of 117.5. The quarterly rise was primarily driven by higher price movements in Chandigarh, Lucknow and Thiruvananthapuram. On an annual basis, the HPI recorded a growth of 3.6 % in Q1 2026‑27, identical to the growth observed in the same quarter of the previous year. The annual increase was largely contributed by Chandigarh, Jaipur, Kanpur, Lucknow and Thiruvananthapuram.
Time‑series data for the All‑India and city‑wise HPIs are available on the RBI’s Database on Indian Economy (DBIE) portal under ‘Statistics > Real Sector > Prices & Wages’.
The stability of the annual growth rate alongside a modest quarterly rise indicates a continued, albeit measured, upward trajectory in residential property prices across the major urban centres.