The Reserve Bank of India (RBI) has released the latest House Price Index (HPI) for the fourth quarter (Q4) of 2025-26. The index is published every quarter using property transaction data collected from registration authorities across the country. The latest report covers 18 major cities.
First understand What is House Price Index (HPI)?
The House Price Index (HPI) is a measure that shows how housing prices are changing over time in different cities and across India. In simple terms, it tells us whether house prices are rising, falling, or remaining stable.
Example
Suppose the average house price in a city was:
- ₹50 lakh in 2022-23 (base year)
- ₹57.95 lakh in 2025-26
The HPI would increase from 100 to 115.9, indicating that house prices have risen by about 15.9% since the base year.
The RBI uses the House Price Index to:
- Track trends in the real estate market.
- Assess the health of the housing sector.
- Monitor risks from excessive increases in property prices.
- Understand the wealth and spending patterns of households.
How is HPI Calculated?
The RBI collects actual property registration data from government registration authorities in major cities.
It then analyzes:
- Sale prices of houses
- Property transactions
- Changes in prices over time
The latest HPI covers 18 major cities across India.
What RBI report tells about HPI this quarter
The latest RBI House Price Index (HPI) report shows that housing prices in India continued to rise during the fourth quarter of 2025-26. The All India HPI increased from 115.6 in the previous quarter to 115.9, indicating that average house prices rose by 0.2% during the quarter. On a year-on-year basis, house prices increased by 4.2% compared to the same quarter last year, which is higher than the 3.8% growth recorded a year ago.
This means that residential property prices are rising steadily across the country, although the increase remains moderate. The growth was mainly driven by higher house prices in cities such as Jaipur, Lucknow, Pune, Nagpur, Chandigarh, and Kanpur. Overall, the data suggests that India’s housing market remains strong, with property values continuing to appreciate at a healthy pace.
Suppose a house was worth ₹50 lakh in March 2025.
If house prices increased by 4.2%, its value would become:
- Original Price = ₹50 lakh
- Increase = ₹50 lakh × 4.2% = ₹2.1 lakh
- New Price = ₹52.1 lakh
So, on average, a house costing ₹50 lakh a year ago would now cost around ₹52.1 lakh.
