Real Estate Price Dynamics in India: An Overview of Residex Index with Special Reference to Kochi
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 9
Abstract
The housing industry of India is growing at a faster rate especially in urban areas. A large population base, rising disposable income and liberalised market regime leads to rapid progress of this sector. In India, there exists a huge gap between the demand and supply of residential housing. This leads to the unprecedented rise of price in the sector. It is essential to track the price movements in the real estate sector so that adequate measures can be adopted to ensure smooth functioning of the economy. National Housing Bank (NHB) publishes Residex, the residential real estate price index which is considered as the first official housing price index in the country. The study makes an effort to analyse the housing price trend in major Indian cities based on NHB Residex with a focus on Kochi in Kerala. The study reveals that there is an overall uptrend in the real estate price in major cities of India with a few exceptions. Housing price in Kochi registered negative growth till 2015; however the city has recouped at least 20 percent from the value recorded in Q4 2013 based on the revamped Residex index.
Authors and Affiliations
Mr. Siby Abraham, Dr. N Ajith Kumar
Keywords
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- EP ID EP412901
- DOI 10.9790/487X-2009060408.
- Views 51
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