India's new housing index

India is expected to introduce a Housing Start-up Index (HSUI) based on newly built homes in urban areas of the country, which would be updated on a quarterly basis, on the recommendation of a technical advisory group set up by the Reserve Bank of India...

The ability to monitor the volume of housing starts during a given period would allow authorities to measure the demand and supply situation as reflected in conversion of building permits into actual starts.

The Indian property market has grown rapidly in the past three years or so, and is having a greater influence on the country's economy, and the HSUI would be a useful tool for measuring the movement of residential prices.

Source: www.homesoverseas.com/news