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In July 2007, the National Housing Bank (NHB) launched the first-of-its kind residential real estate index in India named as "Residex". The Residex is based on actual transaction price of real estate in the cities covered under the index. The aggregated Residex started with 5 cities: Delhi, Mumbai, Kolkata, Bangalore and Bhopal. Later, Ahmedabad, Faridabad, Chennai, Kochi, Hyderabad, Jaipur, Patna, Lucknow, Pune and Surat were added.
Building Construction Cost Index
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The Construction Industry Development Council (CIDC) in India has been releasing its construction cost index (CCI) since 1998. The Index measures an overall variations in the cost of construction of projects including buildings, roads, bridges, railway construction, dams, power plants, factories etc.
How to interpret the graphs: In the bar chart above, realism.IN presents you city level data sourced from the NHB and CIDC. For each city, 2007 has been assumed to be the base year rated at 100 index value. Thus, the height of the bar corresponding to a city represents the multiple by which the overall transaction prices (Residex) or the construction Cost (CCI) of the residential buildings have increased in the 2010 Q2 compared to 2007. For example, a value of 110 for New Delhi suggest that the transaction prices multiplied by 10% (i.e.110/100 minus 100 percent) with respect to 2007 prices. Similarly, a CCI of 115.25 in Chennai would imoly that the construction costs in Chennai had multipled 1.15 times since 2007 during 2010.
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