Thursday, November 26, 2009

Liases Foras launches RESSEX

Realty research firm Liases Foras launched its Real Estate Sensitivity Index – RESSEX,( ) that will provide structured data and property analysis on the country's real estate market.

RESSEX is a product of detailed micro research, which covers every new real estate development excluding secondary supply and enables the user to view the market potential in both micro and market perspectives in the form of an index.

Besides prices, the index comprises sales, inventory, business turnover and an efficiency index, HDFC Joint Manging Director, Renu Sud Karnad, said while launching the index here.

REESEX has been developed to be a source of immense data to developers investors, banks, housing finance companies, FIIs, private equities, analysts and others in their decision-making process, Karnad said.

"RESSEX will enable easier understanding of the finer aspects of the dynamics of real estate trends," Liases Foras's MD, Pankaj Kapoor, said.

The index covers almost every single primary real estate supply across six major Indian cities – Mumbai Metropolitan Region, Pune, NCR, Bengaluru, Chennai and Hyderabad, he said.

The Economic Times

After registration, basic quarterly data for each of the cities covered is available for free on the website

The Liases Foras measure, the second such index in the country, tracks the sector by region and product type (1 bedroom-hall-kitchen (BHK), 2BHK, etc.). It includes a price index, a sales index (showing demand) and an inventory index (indicating supply) for new houses in a city or area.

“We have 30 people who collect data from builders and brokers on a first-hand basis,” Kapoor said. “We have data from Mumbai, the NCR (National Capital Region), Hyderabad, Pune, Bangalore and Chennai now, and are planning to add Ahmedabad, Kochi and Kolkata next year.”

Around 10,000 projects are covered by the research, he said. The data collected by Liases Foras is validated by HDFC.

Data for the Mumbai region is available since 2004, and from 2007 for the rest, Kapoor said. The company has covered 95% of the new projects in the Mumbai metropolitan region extending up to the suburb of Panvel.

Basic quarterly data for each of the cities covered is available for free after registration on the company’s website ( ). The company charges a fee of Rs25,000 per quarter for more detailed data, which includes area-wise information on prices, sales and demand in a particular city.
NHB Residex:

The first real estate index in the country was launched by Reserve Bank of India-owned National Housing Bank (NHB) in 2007.

The NHB Residex covers 15 cities and is restricted to prices, data for which is collected from home loan companies and processed by the New Delhi-based National Council of Applied Economic Research. NHB data is updated once in six months.
Kapoor is confident that he will get enough customers willing to pay for the data and is targeting foreign and local investors, builders and financial institutions as clients.

The company has already undertaken research for at least 100 clients in the last nine years, including HDFC, US-based University of Miami, Mumbai-based Hiranandani Constructions Pvt. Ltd and the Maharashtra Chamber of Housing Industry.

Niranjan Hiranandani, chairman of Hiranandani Constructions, said lack of data is the main reason for lack of transparency in the sector.

“We didn’t have adequate data, whatever was there was fragmented and inauthentic,” he said. “This data is going to help financiers, developers and consumers, particularly when I expect volumes in this industry to grow by 30-35% in the next five years.” livemint


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