The Residex of the National Housing Bank’s (NHB) analysis and residential property index will turn a monthly indicator from the next financial year starting April 2014, instead of quarterly affair.
Cutting the time lag of the survey will make the NHB Residex a more efficient and robust system, said the NHB Chairman and Managing Director RV Verma. Also, Residex’s database will be expanded to cover national banks. Currently, it sources transaction data from 10 housing finance companies and 22 banks.
NHB is mulling to stretch the scope of data collection to all 30 banks. Apart from that, the number of cities constituting the Residex is set to go up, too. In the next round for the July-September quarter, 30 cities will be considered. However, Verma said the cities are still being finalised.