Housing start-up index to be launched by end January: An index tracking the number of houses being constructed every year across the country will be launched by the end of January, housing and urban poverty alleviation minister Girija Vyas . The housing start-up index (HSUI), which will be another indicator of the economy’s health, is being developed in collaboration with the Reserve Bank of India (RBI) and will reflect how many building permits were converted into actual start-ups. “Work has started in 25 pilot cities and information on 6 lakh buildings has been collected—they are at various stages of construction,” Vyas said at a conference. A technical committee of RBI was developing the index. The housing and construction industry has linkages with nearly 254 ancillary industries, and thus it will be a lead economic indicator.
Posted on: Mon, 27 Jan 2014 06:25:22 +0000
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