“In a city where rent control shaped three generations, every flat tells a story of who stayed and who left.”
Kolkata Real Estate & Housing Prices
Kolkata's house price index from NHB RESIDEX (Jun 2013 to Jun 2026), with RBI-published growth rates and a comparison across eight metros
On the National Housing Bank's RESIDEX index (base FY2017–18 = 100), Kolkata's housing valuations almost doubled in twelve years, from 79 in June 2013 to 156.96in December 2025. NHB's newer series, rebased to FY2024–25, puts Kolkata 6.9% higher in June 2026 than a year earlier.
Over the five years to December 2025, Kolkata's index grew at 6.2% a year. That is mid-table among eight major metros: faster than Delhi (1.9%), Mumbai (3.2%) and Pune (4.5%), and slower than Hyderabad, Chennai, Bengaluru and Ahmedabad. The RBI's own index has not been steady either. It recorded Kolkata at +16.0% year on year in April–June 2022, −6.6% a year later, and +8.8% in January–March 2025.
About this data
What this page shows
Kolkata's NHB RESIDEX index from June 2013 to December 2025, the first quarters of NHB's rebased series to June 2026, year-on-year change, the year-on-year rates the RBI has published for Kolkata, and the few RBI index values that could be recovered from RBI documents. It also shows NHB's average valuation price per square foot by unit size, and a comparison with seven other metros on growth rates and valuation prices. Every value comes from a published NHB or RBI source. Where a value could not be found, it is left out. Nothing is estimated or interpolated.
What an NHB index measures
NHB RESIDEX HPI@Assessment Prices is built from the valuations that banks and housing finance companies record when they assess a property for a loan. These are not registered sale prices. NHB also smooths each quarter with a four-quarter weighted moving average. That is why the line is much smoother than the RBI's index, and why a turn in the market shows up late. Index values before June 2022 are published as whole numbers.
Base years: why the series are kept apart
Each index equals 100 in its own base period. NHB's main series uses FY2017–18. From the January–March 2026 quarter NHB moved to a FY2024–25 base, so that series is shown on its own and never joined to the older one. The March 2026 year-on-year figure of 5.3% is NHB's own published number, which spans the base change. The RBI's old index (2010–11 = 100) ended in January–March 2025. The RBI then moved to a 2022–23 base, and Kolkata's values on it could not be retrieved. RBI and NHB levels are never drawn on the same axis, because the gap between them would mean nothing.
Comparing cities
An index level cannot be compared across cities, because each city starts at 100 in the base period. So this page compares growth rates over the same period, plus NHB's average valuation price in rupees per square foot. On that price measure Kolkata is among the lowest of the eight metros, but not the lowest: Ahmedabad and Hyderabad are slightly lower. Delhi's June 2026 index matches its June 2025 value exactly, giving 0.0% year on year. That is what NHB's data shows, but NHB's press release does not quote a Delhi figure, so treat it with care.
Price per square foot is not affordability
A lower price per square foot does not make a city more affordable. Affordability depends on what a home costs in total compared with what households earn, and this dataset has no income data. NHB's prices are bank valuations, not transaction prices, and each city's coverage area is defined differently. The size bands are carpet area: under 60, 60 to 110, and over 110 square metres.
Limitations worth knowing
NHB's index draws on the formal, loan-financed market, so cash purchases are not included. A city-wide figure also hides very large differences between neighbourhoods. Most of the RBI's Kolkata series sits in PDF tables and a database that block automated access, so only 17 quarters are shown here. Rent control has shaped Kolkata's housing for generations in ways no price index captures.
Where the data comes from
NHB RESIDEX (residex.nhbonline.org.in), HPI@Assessment Prices for Kolkata and seven other cities, checked against NHB's quarterly press releases from 2023 to 2026. RBI House Price Index: RBI Bulletin, October 2014 (city-wise index and year-on-year tables), and RBI press releases on the quarterly house price index from 2015 to 2025.
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