RBI Reports 4.2% Rise in Housing Price Index for Q4 FY26

Synopsis: India’s All-India House Price Index rises 4.2 percent in the fourth quarter of FY26, driven by strong housing demand in cities such as Nagpur, Jaipur, Chandigarh, and Kanpur, according to RBI data.

India’s residential real estate market continued to witness steady growth during the fourth quarter of FY26, with the All-India House Price Index (HPI) recording an annual increase of 4.2 percent, according to the latest data released by the Reserve Bank of India (RBI). The growth marks an improvement over the 3.8 percent rise registered during the corresponding period of the previous financial year, indicating sustained demand across several urban housing markets.

The RBI data shows that the increase in housing prices was largely driven by cities such as Nagpur, Jaipur, Chandigarh, and Kanpur, which recorded notable gains during the January–March quarter of FY26. These cities emerged as key contributors to the overall rise in residential property values, reflecting expanding housing demand beyond traditional metropolitan centres.

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On a sequential basis, the House Price Index increased to 115.9 in the fourth quarter from 115.6 in the previous quarter, representing a quarter-on-quarter growth of 0.2 percent. The rise was primarily supported by higher housing prices in Jaipur, Lucknow, and Pune, highlighting continued momentum in several regional housing markets.

The RBI compiles the House Price Index every quarter using transaction-level property registration data collected from registration authorities. The current index uses FY23 as the base year and covers 18 major cities across the country, providing a broad measure of housing price movements in India’s urban real estate sector.

The cities included in the index are Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Ahmedabad, Hyderabad, Pune, Lucknow, Jaipur, Kanpur, Kochi, Thiruvananthapuram, Ghaziabad, Thane, Gautam Buddha Nagar, Chandigarh, and Nagpur. The wider geographic coverage reflects the growing importance of both metropolitan and emerging urban centres in shaping national housing trends.

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Industry experts view the continued rise in housing prices as a reflection of stable end-user demand, improving economic activity, and ongoing infrastructure development across major cities. Demand for premium and mid-segment housing projects has remained strong in several markets, while developers continue to launch new projects to meet evolving consumer preferences. The latest RBI data suggests that India’s residential real estate sector remains on a growth trajectory despite broader global economic uncertainties.