Index to track home prices in cities

Chennai: In a bid to help homebuyers, investors, real estate developers and policymakers track high-frequency price movement in India’s key residential markets, Union Housing and Urban Affairs Secretary, Durga Shanker Mishra launched Housing Pricing Index (HPI), an indicator of economic activity in real estate.

The index was launched by real estate portal Housing.com along with global business school Indian School of Business (ISB).

By offering useful insights into price movement, the index could help a potential homebuyer assess the appropriate time to buy a property and at the same time assist sellers in knowing the most opportune moment to sell their assets.

Policymakers and financial analysts can also use it as a reliable estimate to keep track of the trends in the sector.

 

NT Bureau