Kochi gets into NHBResidex

25 Apr, 2009

Kochi is among the 10 new cities for which the National Housing Bank (NHB) has completed work on a price index for residential property.

The NHBResidex, as the price index has been named, is on the lines of other price indices used in the country. With its twice-a-year updates, the NHBResidex promises planners, government and the public a better perspective on the real estate business in Kochi and its surrounding areas.

Kochi and nine other cities have been included in the index in the second phase of the ongoing and ambitious programme to bring all 63 cities covered by the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) within the purview of the property price index.

The inclusion of Kochi, along with Hyderabad, Faridabad, Patna, Ahmedabad, Chennai, Jaipur, Lucknow, Pune and Surat, in the second phase of the NHBResidex preparation, is recognition of the city’s rising prominence in the realty business in the country.