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Housing.com launches Housing Price Index in collaboration with ISB

The index will help offer insights on price movement and thus will enable decision making by buyers, sellers as well as the policy makers. (Photo: iStock)Premium
The index will help offer insights on price movement and thus will enable decision making by buyers, sellers as well as the policy makers. (Photo: iStock)

  • The entire idea behind the launch of the Housing HPI is to address this issue. Aside from benefitting buyers, investors and policymakers, data from our HPI will also be immensely valuable for real estate developers who are considering a new locality to launch new developments

NEW DELHI: Online real estate portal Housing.com on Monday launched a “Housing Price Index" in collaboration with the Indian School of Business (ISB). The index will be based on the survey of prices of eight cities including as Ahmedabad, Bengaluru, Chennai, Delhi NCR (Faridabad, Ghaziabad, Gurugram, Greater Noida and Noida), Hyderabad, Kolkata, Mumbai, and Pune from 2017. The index values will be arrived at by giving weight to transaction value share of that locality across the country. The data will be collected on a quarterly basis for 1-3 BHK flats.

Speaking on the virtual launch of the index, Durga Shanker Mishra, secretary, Ministry of Housing and Urban Affairs, said, “The Housing Price Index jointly developed by the Indian School of Business and Housing.com has the potential to emerge as a good indicator of the country’s real-estate market health. The real estate sector has been impacted due to the COVID-led slowdown and overall uncertainty. At this time, it is essential to track the growth via credible sources that will help authorities make quicker and informed decisions during such exogenous shocks. We have observed that the demand has already picked up in Q1 2021 and the sector has started to show signs of recovery."

The index will help offer insights on price movement and thus will enable decision making by buyers, sellers as well as the policy makers.

Dhruv Agarwala, Group CEO, Housing.com, Makaan.com, and PropTiger.com, said, “The entire idea behind the launch of the Housing HPI is to address this issue. Aside from benefitting buyers, investors and policymakers, data from our HPI will also be immensely valuable for real estate developers who are considering a new locality to launch new developments. For real estate builders, having access to information such as this has become more crucial than ever now, with the demand landscape rapidly evolving due to the emergence of the “work-from-home" concept in the wake of the COVID-19 pandemic."

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