In a move to unravel the mystery surrounding the real estate sector, Liases Foras, one of India’s premier real estate research firms, has launched Ressex, a pan-India sensitive index for the real estate sector.
Ressex will enable easier understanding of real estate trends and will provide
scientific, fact-based overview of the sector.
It’s expected to bring transparency in realty deals, said Pankaj Kapoor, managing director of Liases Foras.
Though primarily meant for developers, property investors, banks, housing finance companies, private equity funds, investment banks and equity analysts, the index could immensely help the general public by working as a catalyst to prevent mindless rise in property prices. The index can indicate what the actual price should be and whether the developers’ claims were genuine.
“HDFC has actively helped in providing the data collected from its various branches and this will help in transparency,” said Renu Sud Karnad, Jt MD, HDFC Ltd.
“The index will help property investors at a time when so many real estate companies are launching IPOs. This is a new beginning for bringing transparency and will help the common man to get houses at right price,” said Niranjan Hiranandani, managing director, Hiranandani Constructions.