india property gets its first price index
News Posted On: 05 February 2010
India's first ever property index has been unveiled by the Makaan.com; the Makaan.com Property Index (MPI). The index will cover India as a whole and the main metros and tier II cities individually, and is aimed at giving India property buyers an accurate measure of residential property price movements in India for the first time ever.
The index is taking data from January 2009, and every monthly it will be based on 20,000 data basis points. The complex algorithm will take into account the property prices as base and then factor in the demand and supply of residential properties for each of the cities covered.
It has to be said an Indian property index is badly needed. Until this point the only reports you can get are from -- hardly impartial -- realtors and industry professionals. That said: it hardly takes a rocket scientist to work out that the supply/demand dynamic can really only push Indian property prices in one direction -- up --, but it will sure be nice to see it down on paper in a way that can be relied upon.
Indian metros are Mumbai, Delhi, Kolkata (Calcutta), Chenai (Madras) and others depending on what report you read. It is hard to find out exactly which Indian cities are considered Tier II because there are different rankings for economy and population etc, but the list includes: Ludhiana, Lucknow, Chandigarh, Guwahati, Bhubaneswar, Jaipur, Ahmedabad, Surat, Nagpur, Indore, Goa, Vishakapatnam, Mysore, Coimbatore and Kochi.
View property for sale in India
Back to news articles for this country
Latest Related News Articles in India
Outlook for Indian Property Is Good
2011-08-24
Demand for residential property in India is expected to remain high, even though the market is unlik.....
Information Technology and the Property Market in Bangalore
2011-07-08
The rapidly expanding information technology sectors in Bangalore are having a significant effect on.....
All Sectors of Indian Property Market set to Thrive
2011-05-11
It's estimated that the Indian economy will continue to grow at around 8% to 10% each year, and that.....
Property Prices in Mumbai Still Soaring
2011-04-15
Property prices for luxury homes in Mumbai have risen by almost 20% which is the second highest rate.....
Strong Growth Predicted in India Property Market
2011-02-04
A recent study into the Indian housing market forecast strong growth due to the country's rapid econ.....
Affordable Housing in India Looking like a Good Investment
2011-01-14
Residential property prices in India fell by 25 to 30% from their previous highs in 2008 but have no.....
India Property Investment on the Increase
2010-12-28
Soaring residential demand in india is triggering rising investment.....
Indian Economy Up 8pc Year on Year in Q2
2010-09-01
Indian GDP grew 8.8% in the second quarter of this year compared to last year.....
Indian Property Market Enters Growth Phase
2010-05-06
All the signs point to the next 5 years being a time of massive growth in the Indian property market.....
India Property Prices to Grow 12 to 15 pc This Year
2010-03-29
Knight Frank and Citi bank research has found a high probability of major price increases in prime s.....