NHB Residex to cover cities with over 1 million population

National Housing Bank (NHB) aims to cover all cities with population of over one million under its NHB Residex, which is the country’s first official residential property price index.
Currently, the NHB Residex gives relative movement of residential property prices in different localities in fifteen cities.
According to Mr S. Sridhar, Chairman of NHB, “By the end of next year, we want to cover sixty-three cities — all cities with over one million population”.
He also said that NHB Residex will be available on a half-yearly basis from now. The values for the index are derived from the market, and not from Government data.