Kanupar
There is tremendous demand for houses across the country. Due to this the price continues to increase. According to the data released by the Reserve Bank of India (RBI) on Friday, the Housing Price Index (HPI) has increased by 4.3 percent on an annual basis in the second quarter (July-September) of the current financial year. That means the price of houses increased. According to the report, the highest increase in house prices was recorded in Bengaluru at 8.8 percent. At the same time, a decline of up to two percent was seen in Kanpur. House prices in Ahmedabad, Lucknow, Kolkata and Chennai registered an increase during the September quarter as compared to the previous quarter.
These 10 cities were included in the index
It is based on transaction-level data obtained from registrars in 10 major cities. These cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai. HPI had increased by 3.3 percent in the April-June quarter and by 3.5 percent in the same quarter last year. On a quarterly basis, the all-India HPI declined by 0.1 per cent in the July-September period. The RBI on Friday released its house price index for the July-September quarter of 2024-25.
Increase in loan demand
An increase in bank loans to industries was recorded in October. Banks gave eight percent more loans to industries on an annual basis in October 2024, whereas the increase was 4.8 percent in the same month a year ago. This information was received from RBI data released on Friday. The Reserve Bank data also showed that credit to agriculture and allied activities grew by 15.5 per cent year-on-year in October 2024. There was an increase of 17.4 percent in the same month last year. Among core industries, credit growth to ‘chemicals and chemical products’, ‘petroleum, coal products and nuclear fuels’ and ‘engineering’ was higher in October 2024 compared to a year earlier.
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