Bengaluru House Price Trends: What RBI and NHB Data Show

Short answer: Official Bengaluru house price trends point up. The RBI's registration-based index for Bengaluru was 127.08 in Apr–Jun 2026 (2022-23 = 100), against 117.49 for all of India. NHB RESIDEX, built from bank valuations, showed Bengaluru up 21.5% in a year, the fastest of seven big markets. Consultants put new-launch prices up 8–11%.

Key takeaways

RBI HPI: Bengaluru 127.08 (provisional), about 27% above the 2022-23 average. That's roughly 7% a year, and ahead of the 18-city index.
NHB RESIDEX: Bengaluru up 21.5% year on year and 7.2% in the quarter to June 2026, on lenders' valuations.
Consultants: ANAROCK +8%, Knight Frank +11% on average prices for July–September 2026, mostly new stock.
Different data, different answers: registrations, valuations and asking prices measure different things.
Our 3S check (source, stock, sample) tells you which figure fits your question.

Table of contents

What does the RBI House Price Index say about Bengaluru?
What does NHB RESIDEX say?
Why do the numbers differ so much?
Worked example 1: turning the RBI index into a yearly rate
Worked example 2: one flat, four answers
The 3S check (our framework)
Checklist for using price data in a negotiation
Frequently asked questions
Talk it through with acre&key
Sources

Most "Bengaluru prices are up X%" headlines quote one source without saying what it measures. This piece puts the two official series and the main consultant figures side by side, explains why they differ and shows how to use them on a real purchase.

What does the RBI House Price Index say about Bengaluru?

The RBI compiles its HPI quarterly from "transaction-level data received from the registration authorities", with 2022-23 as the base year, across 18 cities including Bengaluru (RBI, 24 Aug 2026). Nationally, the index rose 1.1% in the quarter to 117.5 and 3.6% in the year to Apr–Jun 2026.

Bengaluru's index for that quarter was 127.08, provisional until the next release (RBI DBIE series via Dataful). The release doesn't print city-wise growth, and we couldn't download the city's earlier quarters from the RBI portal. So we don't quote a Bengaluru year-on-year change from the RBI. What the level does tell you is below.

Measure	Bengaluru	All-India (18 cities)
Index, Apr–Jun 2026 (2022-23 = 100)	127.08	117.49
Rise since the 2022-23 average	about 27%	about 17.5%
Annual growth, Apr–Jun 2026	Not published in the release	3.6%

What does NHB RESIDEX say?

NHB RESIDEX publishes three housing price indices: one on registered prices from sub-registrar offices, one on assessment prices from banks' and housing finance companies' valuations, and one on market prices for under-construction stock. It moved to a new FY 2024-25 base from the March 2026 quarter (NHB RESIDEX).

For Apr–Jun 2026, NHB's assessment-price index showed (NHB press release):

City	Year-on-year	Quarter-on-quarter
Bengaluru	21.5%	7.2%
Chennai	10.8%
Ahmedabad	7.9%
Kolkata	6.9%
Mumbai	6.2%
Hyderabad	5.2%
Pune	3.7%
50-city composite	7.0%	2.7%

Bengaluru's 7.2% quarterly rise was the largest sequential increase NHB named, alongside Faridabad's 7.1%.

Is 21.5% a new trend?

Not yet. NHB's year-on-year figure for Bengaluru, taken from each quarterly release:

Quarter	Bengaluru YoY (HPI@Assessment)
Jan–Mar 2025	13.1%
Apr–Jun 2025	9.1%
Jul–Sep 2025	11.3%
Oct–Dec 2025	12.7%
Jan–Mar 2026	13.1%
Apr–Jun 2026	21.5%

For five quarters Bengaluru sat between 9% and 13% a year, then jumped. One quarter is too little to call a new trend. A valuation index can also move with the mix of homes being lent against, which NHB doesn't break down. The Jul–Sep 2026 release will show whether it holds.

Why do the numbers differ so much?

Source	What it measures	Stock covered	Bengaluru figure
RBI HPI	Registered transaction values	Registered sales	127.08 index level
NHB HPI@Assessment	Lenders' valuations for loans	Mortgaged homes	+21.5% YoY
ANAROCK	Average price	Mainly new and unsold stock	+8% to ₹9,600 per sq ft (Q3 2026)
Knight Frank	Average price	New stock, which it says got more expensive	+11% to ₹9,794 per sq ft (Q3 2026)

Consultant figures are from ANAROCK and Knight Frank, as summarised in our is it a good time to buy guide.

Three things drive the gap:

Mix. If more expensive projects launch, an average price rises even if no flat got dearer. Knight Frank says this explains part of its 11%.
What's recorded. Registered values can sit near guidance value. Bank valuations follow the market but depend on which homes are mortgaged.
Timing. These are different quarters: RBI and NHB cover Apr–Jun 2026, the consultants Jul–Sep 2026.

Worked example 1: turning the RBI index into a yearly rate

The RBI base is the 2022-23 average, centred around October 2022. Apr–Jun 2026 is centred around mid-May 2026, about 3.6 years later.

Step	Working	Result
Rise since base	127.08 ÷ 100	1.2708, or 27.1%
Yearly rate	1.2708^(1 ÷ 3.6) − 1	about 6.9% a year
Against all-India	127.08 ÷ 117.49	Bengaluru about 8.2% further up since the base

So registered Bengaluru prices have grown about 7% a year since 2022-23. That's well below NHB's latest 21.5%, which covers a single year of valuations.

Worked example 2: one flat, four answers

Illustrative. You bought a flat for ₹1 crore a year ago. What's it "worth" now, by each headline?

Applying	Working	Implied value
NHB assessment, +21.5%	₹1 cr × 1.215	₹1.215 crore
Knight Frank average, +11%	₹1 cr × 1.11	₹1.11 crore
ANAROCK average, +8%	₹1 cr × 1.08	₹1.08 crore
RBI-implied trend, about 6.9%	₹1 cr × 1.069	₹1.069 crore

The spread is ₹14.6 lakh. None of these numbers values your flat. That takes registered sales in your building or street; our guidance value vs market price study shows the method.

The 3S check (our framework)

Before you lean on a price statistic, ask:

Source. Registrations, bank valuations or asking prices?
Stock. New launches, resale, or everything mortgaged?
Sample. City-wide average, or your micro-market and building type?

Use registration data for "what do homes actually sell for", valuations for "what will a bank lend against", and consultant data for "where is new supply pricing".

Checklist for using price data in a negotiation

[ ] Name the source and quarter of any figure quoted to you
[ ] Check whether it's new stock or resale
[ ] Compare with registered values from encumbrance certificates in the same building
[ ] Look up the guidance value for the line (our guidance value table)
[ ] Check the area guide for local spreads, for example Whitefield or KR Puram
[ ] Ignore city-wide growth rates when pricing one flat

For the quarter's sales and supply picture, see our Q3 2026 market report.

Frequently asked questions

Are house prices rising in Bengaluru?

Yes, on every official and consultant measure we checked. The RBI's registration-based index for Bengaluru stood at 127.08 in Apr–Jun 2026 against a 2022-23 base of 100. NHB's valuation index rose 21.5% in a year, and consultants reported 8–11% higher average prices.

What is the RBI House Price Index for Bengaluru?

It was 127.08 (provisional) for Apr–Jun 2026, with 2022-23 as 100. That puts registered prices about 27% above the 2022-23 average. The RBI builds it from registration data across 18 cities, where the all-India index stood at 117.5 and grew 3.6% in a year.

What is NHB RESIDEX?

National Housing Bank's official housing price index for 50 cities. It has three versions: registered prices, assessment prices from bank and HFC valuations, and market prices for under-construction stock. Its new base year is FY 2024-25.

Why does NHB show 21.5% when consultants show 8–11%?

They measure different things. NHB's figure tracks lenders' valuations of mortgaged homes. Consultants track average prices, mostly on new and unsold stock, and those averages move with the mix of projects launched. The periods differ too: Apr–Jun against Jul–Sep 2026.

Which price index should I trust?

Each answers a different question. For what homes actually sell for, use registration-based data such as the RBI HPI and encumbrance certificates. For what a bank will lend against, look at valuations. For where new launches are priced, use consultant reports.

How much have Bengaluru prices risen since 2022?

On the RBI's registration-based index, about 27% from the 2022-23 average to Apr–Jun 2026. That works out to roughly 7% a year, ahead of the 18-city all-India index at 117.49. Your micro-market could be well above or below that.

Do these indices tell me what my flat is worth?

No. They're city-level trends. To value a specific flat, look at registered sale values in the same building or street, the guidance value for that line, and the flat's age, floor and condition. Then compare asking prices with those.

How often are the RBI and NHB indices updated?

Both are quarterly. The RBI released Apr–Jun 2026 data on 24 Aug 2026, and NHB's release for the same quarter came out in September 2026. RBI city figures are provisional until the following quarter's release.