The Real estate industry in India has been growing by leaps and bounds in the past few years. However, the country still lacks a credible way to cross-check the price swings (real or reported) in the sector. For example, recent reports of residential prices cooling off in major cities of the country could not be verified.
There was no authentic data to indicate such a trend. Thus, flats buyers remain confused, not knowing, for instance, whether Mumbai property prices fell more than that of Delhi in the last quarter?
The same does not happen with equity investors. If, at the end of the day, anyone wants to know the day’s market trend, he could visit BSE/NSE website or see next day’s newspaper to know the exact rise or fall of Sensex or Nifty. And nobody questions the authenticity of Sensex or Nifty as a barometer of market sentiment. With years of index publishing, a sort of credibility and association has been built with the equity investors by these financial institutions.
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