RESIDEX - Trends in Housing Price Index
- RESIDEX is India’s first official Housing Price Index (HPI) that captures the price changes of residential housing.
- It was launched by National Housing Bank in 2007 covering 26 cities.
- It helps buyers and sellers to check and compare prices before entering a transaction.
- They can also analyse the price trends across different cities both at composite level and product category level.
- Components of RESIDEX include HPI @ market price and HPI @ Assessment Prices.
- Recently, RESIDEX was revamped and the new RESIDEX has been expanded to 50 cities which includes smart cities and state capitals.
- Base year for the new RESIDEX has been moved from 2007 to 2012-13.
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