Small cities are contributing highly in new housing index
The smaller cities are shining brightly in the newly launched Housing beginning Index (HSUI) as compared to the metros. Housing and poverty alleviation minister Girija Vyas said the index has demonstrated a declining trend in the sector in cities like Kolkata, Chennai and Bangalore but it has definitely shown an upward trend in small cities such as Dehradun, Bhopal and Hubli. The housing sector may not be glossy for the metros due to stalled economic growth, but small cities are making a big impact in the index. Vyas said launching the survey trends are helpful indicators of the pattern of development in our country, which also helps policy makers and administrators perceive the future focus and thrust areas not only in terms of housing provision, but all the associated infrastructure and civic amenities required. The first –of its kind initiative is a critical indicator of economic evolution related to multiple sectors like banking, mortgage, labour, steel, cement, and paint. HSUI is a pilot project, a joint initiative of the national building organization and the RBI, covering housing activities in 27 cities amidst 2009 and 2011.
Source: The Financial Express
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