Realty records 5.3% price spurt across cities

In an indication that real estate sector is back on the right track, housing prices went up by an average 5.3 percent during April-June quarter of this fiscal across 10 major cities as compared to the corresponding period in the preceding financial year, RBI said in its recent report, elaborating that the average rates appreciated by 2.5 percent in these 10 major cities when compared to the previous quarter. The bank, which released its quarterly house price index (HPI) for the first quarter of 2018-19, based on transactions data received from housing registration authorities in ten major cities including Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur, and Kochi. The report further added that on a year-on-year basis, the all-India HPI recorded a growth of 5.3 percent in Q1:2018-19 as against 6.7 per cent in the previous quarter and 8.7 percent a year ago, the statement claimed.