Mumbai: The Reserve Bank of India on Thursday said it may launch a housing start-up index, based on newly built residential units in urban India , on a quarterly basis.
The Indian central bank plans to set up a committee to oversee the exercise.
The development of such an index is one of the major recommendations of a technical advisory group, constituted by the banking regulator to suggest a methodological framework and institutional arrangements for regular compilation of the Housing Start-up Index.
Higher demand for housing has a positive impact on sectors such as steel and cement. Besides, the construction sector employs millions of workers.