Data collected for this purpose include information on price per square foot, quantity, and the total value of transactions in the previous three months for various sub-localities within each city.
Online real estate portal Housing.com along with the international business school, Indian School of Business (ISB), on May 31, 2021, declared the launch of its Housing Pricing Index (HPI) that would benefit potential homebuyers assess the suitable time to buy a property and at the same time assist sellers in gauging the convenient time to sell their assets.
The HPI, in partnership with the industry body NAREDCO, will enable homebuyers, investors, real estate developers, and policymakers to track high-frequency price change in India’s vital domestic markets.
The Housing Pricing Index (HPI) of Housing.com – ISB was commenced by Union Housing and Urban Affairs Secretary Durga Shanker Mishra through a virtual event.
“The Housing Price Index jointly developed by the Indian School of Business and Housing.com has the potential to emerge as a good sign of the country’s real-estate market strength. The real estate sector has been affected due to the COVID-led slowdown and overall uncertainty. At this time, it is required to track the growth via credible sources that will help authorities make quicker and informed decisions during such exogenous shocks,” said Mishra.
Asking Housing.com and ISB to make the Index healthy, Mishra said that the Index would be convenient for home buyers as well as policymakers to decide the future course of action.