Leading online real estate portal Housing.com along with Indian School of Business (ISB) launched its Housing Pricing Index (HPI), an indicator of economic activity in real-estate, the second-largest employment generating sector in India after agriculture. Launched during a virtual meet attended by Union Housing & Urban Affairs Secretary, Durga Shanker Mishra and several industry bigwigs and academicians, the HPI will provide monthly reports on price and quantity movement in various property markets across the country.
The HPI, created in association with Indian School of Business’ (ISB), Srini Raju Centre for IT and the Networked Economy (SRITNE), aims to serve as a tool that tracks changes in residential home prices across India’s eight major markets.
By offering useful insights into price movement, the index could help a potential home buyer assess the appropriate time to buy a property and at the same time assist sellers in knowing the most opportune moment to sell their assets. Based on a survey of cities such as Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune from 2017 to the present, HPI uses granular prices from localities and their corresponding weights based on transaction value share of that locality in India, basing its findings on 1, 2, and 3-BHK apartments.
