Property prices surged in 48 out of 50 Indian cities during the fourth quarter of FY2024–25, according to the latest NHB RESIDEX report released by the National Housing Bank (NHB). The only cities that saw a dip were Howrah and Thiruvananthapuram.

The 50-city Housing Price Index (HPI), which compiles valuation data from banks and housing finance companies, recorded a 7.5% annual increase for the January–March 2025 quarter. This is a significant rise compared to the 5.1% increase during the same period last year.

Eight major residential markets saw notable price appreciation:
•󠁏󠁏 Bengaluru: 13.1%

•󠁏󠁏 Kolkata: 9.6%

•󠁏󠁏 Chennai: 9%

•󠁏󠁏 Pune: 6.8%

•󠁏󠁏 Ahmedabad: 6.1%

•󠁏󠁏 Mumbai: 5.9%

•󠁏󠁏 Hyderabad: 4.8%

•󠁏󠁏 Delhi: 2.9%

On a quarter-on-quarter (Q-o-Q) basis, the index grew by 1.9% during January–March 2025. The index has been on a steady upward trend every quarter since September 2021, indicating sustained growth in the housing sector.

Adding to the positive sentiment, the Reserve Bank of India reduced the repo rate by 25 basis points in February 2025—its first rate cut in five years—leading to a corresponding decline in home loan interest rates.

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