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Consider the following statements in regard to 'RESIDEX' :
(1) The index is prepared to track the prices of residential properties in India on the basis of actual transaction prices.
(2) The index is prepared from the secondary data available from various sources like housing, finance companies and banks.
Which of the statements given above is/are correct ?
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- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Correct Option: C
At present, index is being developed only for residential housing sector, However at a later stage, the index could be expanded to develop separate indices for commercial property and land, Primary data on housing pries is being collected from real estate agents by commissioning the services of private consultancy/research organisations of national repute. In addition, data on housing prices is also being collected from the housing finance companies and banks which is based on housing loans contracted by these institutions.
