Property Prices Surge in 48 Cities in Q4 of FY25: NHB RESIDEX
A significant rise in property prices was observed in 48 out of 50 cities during the fourth quarter of 2024-25, according to the latest data from the National Housing Bank (NHB).
Property PricesReal EstateNhb ResidexHousing MarketIndiaReal EstateMay 24, 2025
Out of the 50 cities covered, only two cities, Howrah and Thiruvananthapuram, experienced a decline in property prices. The 50-city Housing Price Index (HPI), which is based on valuation prices of properties collected from banks and housing finance companies, recorded an annual increase of 7.5 percent during the fourth quarter of 2024-25 compared to 5.1 percent a year ago.
Eight key primary residential markets witnessed notable appreciation in property prices during January-March 2025. According to the Housing Price Index published by the NHB, prices in Ahmedabad rose by 6.1 percent, Bengaluru by 13.1 percent, Chennai by 9 percent, Delhi by 2.9 percent, Hyderabad by 4.8 percent, Kolkata by 9.6 percent, Mumbai by 5.9 percent, and Pune by 6.8 percent.
On a quarter-on-quarter basis, the 50-city index registered an expansion of 1.9 percent in January-March 2025. This marks a continuing trend of increasing property prices on a Q-o-Q basis since September 2021.
Meanwhile, the interest rate on home loans moderated by 25 basis points in February 2025, following the Reserve Bank of India's (RBI) decision to reduce the repo rate by 25 basis points. This was the first rate cut in five years, providing a much-needed boost to the housing sector.
The National Housing Bank (NHB) is a statutory body established under the National Housing Bank Act, 1987. It plays a crucial role in promoting housing finance institutions and ensuring the availability of funds for housing. The NHB RESIDEX, a comprehensive residential housing price index, is a key tool for tracking property price movements across major cities in India.
This surge in property prices reflects the growing demand for residential properties and the improving economic conditions in the country. However, it also highlights the need for affordable housing solutions to ensure that the benefits of this growth are accessible to all segments of the population.
Frequently Asked Questions
What is the NHB RESIDEX?
The NHB RESIDEX is a comprehensive residential housing price index published by the National Housing Bank (NHB). It tracks property price movements across major cities in India and is a key tool for understanding trends in the housing market.
How many cities experienced an increase in property prices in Q4 of FY25?
48 out of 50 cities experienced an increase in property prices during the fourth quarter of 2024-25, according to the NHB RESIDEX.
Which cities saw a decline in property prices?
Only two cities, Howrah and Thiruvananthapuram, saw a decline in property prices during the fourth quarter of 2024-25.
What was the annual increase in the 50-city Housing Price Index during Q4 of FY25?
The 50-city Housing Price Index recorded an annual increase of 7.5 percent during the fourth quarter of 2024-25, compared to 5.1 percent a year ago.
What impact did the RBI's repo rate reduction have on home loans?
The Reserve Bank of India (RBI) reduced the repo rate by 25 basis points in February 2025, which led to a moderation in home loan interest rates by 25 basis points.
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