India Property News-India Real Estate News Weblog at IndiaPropertyNews.co.cc
18 September 2008

NHB Launches Housing Price Index in 5 Indian Cities

National Housing Bank LogoIn a move that is expected to bring transparency to the real estate market, finance minister P Chidambaram launched the official Housing Price Index, developed by India's home loans regulator, the National Housing Bank. Named as NHB Residex, the index has been introduced as a pilot for five cities-Bangalore, Bhopal, Delhi, Kolkata and Mumbai. The index covers different localities in each of the five cities for five years: 2001-2005. The index will track the movements of residential property prices and can be used to estimate the house wealth, considered an important component of personal wealth. Banks and housing finance companies can also use it in portfolio evaluation and collateral security for their housing loans.

Filed under: , , , , , , , ,
 

Comment Notification

Subscribe to this post's comments using RSS

Comments

# Toronto Condo said:

Turkey, Europe and the Americas to meet demand and benefit from relatively high returns. The real estate unit of financial services division of ING Group, which managed 94.4 billion euros ($130.2 billion) in property globally as of March 31, plans to invest 0.5 to 1 billion euros in these two countries by early 2008.Returns in India and Turkey are expected to be higher than the 4-7 percent generated in Western Europe and North America. Increased demand from customers is another reason for ING Real Estate’s expansion into these two markets. ING Group desires to participate in markets that grow. This is also a reason why they started investing in Scandinavia in 2005 and central Europe in 1993. ING has been in China since the early 1990s.

23 January 09 at 4:54 PM

Leave a Comment

Comment Policy: No HTML allowed. URIs and line breaks are converted automatically. Your e–mail address will not show up on any public page.

(required)
(optional)
(required)