1. Housing Price Index
A joint initiative of RBI and Housing and Urban Poverty Alleviation (HUPA) ministry is
set to come up every quarter with Housing Price Index and it will be based on newly built
residential units in urban area from 2007 onwards. It is supposed to measure the shift in
the tendency of growth /recession in the related sectors.
Global Context: As of now only five countries namely US, UK, Australia, Canada and
Brazil have a housing start up index of their own.
Indian Context: Till May 2011,HSUI cells have been established in 16 cities namely
Jaipur, Bhopal, Guwahati, Gwalior, Indore, Udaipur, Mysore, Kochi, Vishakhapatnam,
Sangli, Jodhpur, Itanagar, Coimbatore, Surat, Faridabad and Pune.
Importance: HSUI is computed and published as a major economic indicator in most
developed countries and it captures the upward and downward movement of the
economy.
Importance from examination point of view:
1. 2 marker
2. Importance from economic point for the country.
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