Friday, Jan 27 2023 | Time 17:20 Hrs(IST)
Business Economy

NHB's HPI up 7.4 pc YoY in Q2

New Delhi, Nov 28 (UNI) The National Housing Bank’s housing price index (HPI) recorded a 7.4 per cent year-on-year increase in the quarter ended September 30, 2022.
Housing Price Index (HPI) tracks the movement in prices of residential properties in select 50 cities on a quarterly basis with FY 2017-18 as the base year.
The annual change in HPI @ Assessment Price varied widely across the cities – ranging from
an increase of 20.2% (Gandhinagar) to a decline of 2.3% (Bhiwadi).
Out of the 50 cities, 46 cities registered an increase in the index whereas 4 cities registered decline on an annual basis. All of the eight major metros of the country viz., Ahmedabad (13.9%), Bengaluru (6.0%) , Chennai (11.6%), Delhi (6.7%), Hyderabad (10.9%), Kolkata (6.8%), Mumbai (2.4%) & Pune (5.0%) recorded increase in the index on an annual basis.
On a sequential (Q-o-Q) basis, the 50-city index registered an expansion of 1.2% in July-September 2022 as against 1.7% in the previous quarter. The index is showing an increasing trend on Q-o-Q basis since June-21.
While Ludhiana, Bhiwadi, Howrah, Thiruvananthapuram, Panvel and New Town Kolkata recorded sequential decline in the HPI @ Assessment Price during the quarter (Ludhiana recording the maximum decline of 7.3%), the index recorded increase in 44 cities with Kochi recording the highest sequential improvement of 7.4%.
The 50 city HPI @ Market Price for Under Construction Properties computed using the quoted prices for under construction and ready to move unsold properties, also recorded an annual increase (Y-o-Y) of 8.5% in QE September 2022 as against 2.9% a year ago.
The annual variation in HPI@ Market Price ranged from an increase of 37.7% (Bhubaneshwar) to a contraction of 6.5% (Indore).
On a sequential (Q-o-Q) basis, the 50 city Index witnessed an increase of 3.7% during the quarter compared to 1.8% in the previous quarter. The rising cost of construction is showing an impact on the asking prices of the property.
''There has been a sustained increase in the Indices post COVID-19. The improvement has been more prominent in the Tier II and Tier III cities and the momentum is expected to continue backed by positive home buyer sentiment,'' a statement from the NHB said.
More News

Dr Reddys Labs launches Difluprednate Ophthalmic Emulsion 0 05 pc in US market

27 Jan 2023 | 2:59 PM

Mumbai, Jan 27 (UNI) Pharma major, Dr Reddy's Labs on Friday said it has launched Difluprednate Ophthalmic Emulsion 0.05%, a therapeutic generic equivalent to Durezo in the U.S. market, following the approval by the US Food and Drug Administration (USFDA).

see more..

Worldline launches Buland Bharat digital payments suite for stronger & inclusive India

27 Jan 2023 | 2:57 PM

Mumbai, Jan 27 (UNI) Worldline , a global leader in payments services, on Friday said it has launched Buland Bharat digital payments suite, which is designed specially keeping in mind the needs and wants of small and medium businesses (SMBs) in India.

see more..

Jio launches true 5G across all 6 states of North-East circle

27 Jan 2023 | 2:55 PM

Mumbai, Jan 27 (UNI) Reliance Jio on Friday said it has launched its True 5G services across all six states of North-East circle by connecting seven cities namely, Shillong, Imphal, Aizawl, Agartala, Itanagar, Kohima, and Dimapur with the transformational Jio True 5G network.

see more..

Edelweiss MF Launches Edelweiss CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index Fund

27 Jan 2023 | 2:55 PM

Mumbai, Jan 27 (UNI) Edelweiss Asset Management Limited on Friday said it launched Edelweiss CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index Fund, India’s first passive short-duration index fund.

see more..

27 Jan 2023 | 1:33 PM

Hyderabad, Jan 27 (UNI) Generic drug maker Dr. Reddy’s Laboratories Limited on Friday announced the launch of Dr. Reddy’s Difluprednate Ophthalmic Emulsion 0.05%, a therapeutic generic equivalent to Durezol® in the U.S. market.

see more..