GalaTime

It was only yesterday that I wrote my first post on real estate in India, with the lament that there is no historical price database. So it’s good to know that soon there will be a real estate price index for India:

Here’s some excerpts from the Mint article (registration required):

* The index, to be called the ‘NHB Residex’, will initially cover real estate prices in Mumbai, New Delhi, Bangalore, Kolkata and Bhopal. Within a year, the index will be expanded to cover 36 cities.

* In the five years ended March 2005, home loans grew at a compound rate of 32.15% to touch Rs 76,819 crore.

Not sure why Hyderabad & Chennai didn’t make the first cut, but I guess they will be included soon. More imporantly, we don’t know if the index will cover the past few decades - that would certainly help determine how far house/land prices are from their trendlines.

This entry was posted on Tuesday, February 6th, 2007 at 12:18 pm and is filed under real-estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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