Housing Pricing Index (HPI), an indicator of economic activity in real-estate, the second-largest employment generating sector in India after agriculture, has been launched by leading online real estate portal Housing.com along with Indian School of Business (ISB). It was 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. According to the Gurugram-based digital real estate company, the HPI, created in association with the 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 homebuyer 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. Policymakers and financial analysts can also use it as a reliable estimate to keep track of the trends in the sector.
Following the launch of the index, representatives from the government and industry stalwarts shared their opinions and points of view about the ongoing pandemic situation and its impact on the industry during an interactive session.
