India Housing Prices Rise 7% YoY Across 50 Cities in Q1 FY27: NHB RESIDEX
The index, evaluated on assessment prices collected from scheduled commercial banks and housing finance companies (HFCs), registered property value gains in 47 out of the 50 monitored cities. Sequentially, the all-India 50-city index rose 2.7% quarter-on-quarter (QoQ) over the January–March 2026 period.
Major Market Performance
Price appreciation remained broad-based across all seven primary residential hubs, led predominantly by southern and western markets:
| City | YoY Change (%) | Highlights |
| Bengaluru | +21.5% | Highest growth among tier-1 hubs; rose 7.2% sequentially |
| Chennai | +10.8% | Sustained traction in mid-income and suburban corridors |
| Ahmedabad | +7.9% | Demand driven by GIFT City and transit corridor expansions |
| Kolkata | +6.9% | Steady recovery across newly launched suburban inventory |
| Mumbai (MMR) | +6.2% | Resilient luxury and redevelopment market activity |
| Hyderabad | +5.2% | Moderate stabilization following previous years' rapid run-ups |
| Pune | +3.7% | Steady absorption in IT and industrial sub-markets |
Outliers and Tier-II Variations
Faridabad recorded the highest annual appreciation nationally at 24.4% YoY (up 7.1% QoQ), propelled by infrastructure connectivity upgrades in the National Capital Region (NCR).
Kalyan-Dombivali was among the rare outliers experiencing a contraction, registering a 1.7% YoY decline.
Only 3 out of 50 cities saw negative year-on-year growth, indicating that end-user demand and higher construction input costs have supported elevated price floors across most regions.
Key Growth Drivers
Robust End-User Absorption: Healthy employment growth and sustained demand in IT- and services-driven hubs like Bengaluru and Chennai continue to absorb mid- and premium-tier units.
Input Cost Pass-Through: Rising costs of raw construction materials, including cement, steel, and urban land acquisition, have prompted developers to revise baseline inventory prices upward.
Infrastructure Catalysts: Metro corridors, peripheral ring roads, and rapid transit developments have expanded peripheral city valuations, narrowing the price gap between suburban and city-center developments.
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