Property prices increased in 48 out of 50 cities during the fourth quarter of the financial year 2024–25, according to data released by the National Housing Bank (NHB). The NHB’s RESIDEX report revealed that only Howrah and Thiruvananthapuram recorded a decline in property values among the surveyed cities.The Housing Price Index (HPI), which tracks residential property valuation data sourced from banks and housing finance companies across 50 cities, registered a year-on-year increase of 7.5 per cent in Q4 FY25, up from 5.1 per cent during the same period in the previous year. According to a PTI report, all eight major residential markets saw price appreciation during the January–March 2025 period. NHB data showed that Ahmedabad recorded a rise of 6.1 per cent, Bengaluru 13.1 per cent, Chennai 9 per cent, Delhi 2.9 per cent, Hyderabad 4.8 per cent, Kolkata 9.6 per cent, Mumbai 5.9 per cent and Pune 6.8 per cent.The 50-city index also recorded a quarterly growth of 1.9 per cent during January–March 2025, continuing a consistent trend of quarter-on-quarter growth since September 2021.The property market was further supported by a reduction in home loan interest rates in February 2025, when the Reserve Bank of India (RBI) cut the repo rate by 25 basis points—its first rate cut in five years.