{"id":1145,"date":"2023-02-24T06:55:52","date_gmt":"2023-02-24T06:55:52","guid":{"rendered":"https:\/\/www.homebazaar.com\/news\/?p=1145"},"modified":"2023-02-24T06:55:52","modified_gmt":"2023-02-24T06:55:52","slug":"in-q3-fy23-real-estate-prices-surge-7-1-year-over-year-in-50-cities","status":"publish","type":"post","link":"https:\/\/www.homebazaar.com\/news\/in-q3-fy23-real-estate-prices-surge-7-1-year-over-year-in-50-cities\/","title":{"rendered":"In Q3 FY23, Real Estate Prices Surge 7.1% Year Over Year In 50 Cities"},"content":{"rendered":"<p><span style=\"font-weight: 400\">As per Residex, a home values index (HPI) produced by National Housing banks, residential housing prices in 50 cities climbed by 7.1% year over year over the quarter that concluded on December 31, 2022, compared to 4.5% a year earlier (NHB)<\/span><\/p>\n<p><span style=\"font-weight: 400\">Three home price indices the &#8220;HPI at assessment prices,&#8221; &#8220;HPI at registered prices,&#8221; and &#8220;HPI at the market rate for under-construction properties&#8221; are published by NHB Residex.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Out of the 50 municipalities, 44 saw a rise in the index, while just six saw a fall on a yearly basis. In contrast to Ludhiana, where HPI had a fall of 11.6%, Gandhinagar saw an increase of 21.4%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">All eight of the nation&#8217;s largest metropolises\u00a0 Mumbai (4.4%), Ahmedabad (14.4%), Delhi (1.8%), Bengaluru (8.0%), Chennai (8.7%), Kolkata (7.4%), Hyderabad (10.2%), and Pune (7.2%) recorded increases in the index on an annual basis.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In comparison to the previous quarter, the 50-city index saw growth of 1.2% in the third quarter of 2022 to 1.5% in the fourth. Since June 21, the index has been climbing from quarter to quarter.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Out of 50 cities, the Index record increased in 40 of them, with Kochi showing the highest sequential improvement at 6.4%. However, the &#8216;HPI at assessment price&#8217; for Ludhiana, Navi Mumbai, Nagpur, Dehradun, Delhi, Bhiwadi, Raipur, Howrah, Bidhan Nagar, and New Town Kolkata decreased sequentially during the quarter.<\/span><\/p>\n<p><span style=\"font-weight: 400\">When comparing one quarter to the next, the 50 cities had a growth of 3.1% as opposed to 3.7% in the previous quarter. The increasing cost of building is having an effect on property asking prices.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As per Residex, a home values index (HPI) produced by National Housing banks, residential housing prices in 50 cities climbed by 7.1% year over year over the quarter that concluded on December 31, 2022, compared to 4.5% a year earlier (NHB) Three home price indices the &#8220;HPI at assessment prices,&#8221; &#8220;HPI at registered prices,&#8221; and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1146,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[62,38,43,117],"tags":[356,368,258,99,367,355,140],"class_list":["post-1145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bangalore","category-mumbai","category-noida","category-real-estate","tag-bangalore","tag-hyderabad","tag-kolkata","tag-mumbai","tag-nhb","tag-real-estate-growth","tag-real-estate-news"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/comments?post=1145"}],"version-history":[{"count":0,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1145\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media\/1146"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media?parent=1145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/categories?post=1145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/tags?post=1145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}