Housing Impedes in Chennai, Bangalore & Kolkata
The Housing Start-up Index is the new indicator of the housing construction sector, which is released by the Reserve Bank of India and the Ministry of Housing and Urban Poverty Alleviation (MHUPA). This index, first of its sort in India, provides an indication of the number of building permits was issued in a given period, and when the construction got initiated.
On
Monday, based on the index value the RBI and MHUPA released that the housing
starts down in large cities like Chennai, Kolkata and Bangalore.
On
the other hand, housing increased in several cities like Bhopal, Hubli, and
Ahmedabad.
This
index is terrifying for both the property developers and policy-makers. As of
now, large six countries like the United States, Japan and so on, has subjected in
using this index value.
A
survey study of 27 cities that concentrate mainly on building permits issued
between 2007 and 2011 reveals that most of the construction starts in the same
quarter as the building permit was approved.
Based
on the data, matted by the National Buildings Organization and the National
Sample Survey Office, the RBI will publish the housing starts index value for every
three years.
