NATIONAL HOUSING BANK , New Delhi February 11, 2014  Press Release NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX
Quarterly Update October-December, 2013 (26 cities)

NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis. This is being done since 2007.

From the quarter January-March, 2013 NHB RESIDEX has been expanded to include 6 new cities namely Chandigarh, Coimbatore, Dehradun, Meerut, Nagpur and Raipur. The NHB RESIDEX now covers 26 cities. This latest NHB RESIDEX for the quarter October-December, 2013 covers 26 cities, with base year as 2007. The Residex for the quarter October-December, 2013 constructed for 26 cities has taken into account the price trends for residential properties in different locations and zones in each city. Data on the transactions are collected from diverse sources and are classified, validated and applied to the model designed to give the representative Index for each city. The data based on actual transactions are put through a Model that depicts the trend in the market. The Residex is expected to bring greater uniformity and standardisation as well as greater transparency in the valuation of properties across the industry. Price Movement for the quarter October-December, 2013 (26 Cities) The movement in prices of residential properties for the quarter October-December, 2013 has shown increasing trend in sixteen (16) cities ranging from 1.1% in Dehradun to 8.0% in Nagpur, and fall in eight (8) cities ranging from -1.2% in Kochi to -3.6% in Vijayawada in comparison to the previous quarter July-September, 2013. Index for 2 cities namely Mumbai and Ludhiana has remained stagnant.

Rising Trend: Residential housing prices in 16 cities have shown increase in prices in this quarter ended December, 2013 (October-December, 2013) over the previous quarter ended September, 2013 (July-September, 2013). Maximum increase was observed in Nagpur (8%) followed by Guwahati (7.4%), Pune (7.3%), Surat (6.2%), Patna (6.0%), Hyderabad (5.7%), Bhubneshwar (4.7%), Chennai (3.8%), Bengaluru (3.7%), Delhi (3.2%), Ahmedabad (3.1%), Faridabad (2.5%), Indore (2.2%), Bhopal (1.4%), Raipur (1.3%) and Dehradun (1.1%),Declining Trend: 8 cities have shown decline in prices over the previous quarter with maximum fall observed in Vijayawada (-3.6%) followed by Lucknow (-3.1%), Meerut (-2.8%), Coimbatore (-2.8%), Jaipur (-2.8%), Chandigarh (-2.1%), Kolkata (-1.5%) and Kochi (-1.2%).

Index for 2 cities namely Mumbai and Ludhiana has remained stagnant.

CITY WISE HOUSING PRICE INDEX FOR THE QUARTER OCTOBER-DECEMBER, 2013

Press Release NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX Quarterly Update July-September, 2013 (26 cities)

NATIONAL HOUSING BANK, New Delhi November 20, 2013  Press Release NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX
Quarterly Update July-September, 2013 (26 cities)

NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis. This is being done since 2007.

From the quarter January-March, 2013 NHB RESIDEX has been expanded to include 6 new cities namely Chandigarh, Coimbatore, Dehradun, Meerut, Nagpur and Raipur. The NHB RESIDEX now covers 26 cities.

This latest NHB RESIDEX for the quarter July-September, 2013 covers 26 cities, with base year as 2007. The Residex for the quarter July-September, 2013 constructed for 26 cities has taken into account the price trends for residential properties in different locations and zones in each city. Data on the transactions are collected from diverse sources and are classified, validated and applied to the model designed to give the representative Index for each city. The data based on actual transactions are put through a Model that depicts the trend in the market. The Residex is expected to bring greater uniformity and standardisation as well as greater transparency in the valuation of properties across the industry. Price Movement for the quarter July-September, 2013 (26 Cities) The movement in prices of residential properties for the quarter July-September 2013 has shown increasing trend in twelve (12) cities ranging from 0.46% in Mumbai to 5.30% in Kolkata, and fall in ten (10) cities ranging from -0.93% in Bengaluru to -6.88% in Meerut in comparison to the previous quarter April-June, 2013. Index for 4 cities namely Pune, Kochi, Coimbatore and Dehradun has remained stagnant. Rising Trend: Residential housing prices in 12 cities have shown increase in prices in this quarter ended September, 2013 (July-September, 2013) over the previous quarter ended June, 2013 (April-June, 2013). Maximum increase was observed in Kolkata (5.30%) followed by Chennai (4.95%), Hyderabad (4.77%), Ahmedabad (2.69%), Lucknow (2.14%), Surat (2.12%), Patna (2.04%), Guwahati (1.36%), Raipur (1.29%), Faridabad (0.99%), Chandigarh (0.53%) and Mumbai (0.46)%. Declining Trend: 10 cities have shown decline in prices over the previous quarter with maximum fall observed in Meerut (-6.88%) followed by Delhi (-4.53%), Ludhiana (-4.46%), Vijayawada (-4.03%), Nagpur (-3.58%), Bhopal (-3.09%), Indore (-2.18%), Jaipur (-1.82%), Bhubneshwar (-1.03%) and Bengaluru (-0.93%). Index for 4 cities namely Pune, Kochi, Coimbatore and Dehradun has remained stagnant.

CITY WISE HOUSING PRICE INDEX FOR THE QUARTER JULY- SEPTEMBER, 2013

Press Release Workshop on “State of the Housing Sector – Odisha” & Inauguration of NHB’s Bhubaneswar Representative Office

National Housing Bank’s 10th Regional Representative Office was inaugurated by the Chief Guest, Shri Harun R. Khan, Deputy Governor, Reserve Bank of India in the presence of Shri Injeti Srinivas, Development Commissioner and Additional Chief Secretary, Government of Odisha on July 01, 2013 at Hotel Kalinga Ashok. The inauguration event was followed by a workshop on “State of the Housing Sector – Odisha”. The event saw a gathering of personalities from Central and State Government, RBI, Banks, Housing Finance Companies, Regional Rural Banks, Housing Boards, Development Authorities, IFC, DFID, CREDAI, MFIs amongst others.

Press Release Workshop on Water & Sanitation Programme, Bhubaneswar

A workshop on Water and Sanitation was organized by NHB in collaboration with UN-Habitat on July 15, 2013 at Hotel Kalinga Ashok, Bhubaneswar. Representatives from UN-Habitat, IFC, Microfinance Institutions namely, Swayamshree Micro Credit Services, Adhikar, Gram Utthan, and People’s Forum and few of the SHG members were also participated and benefited from the workshop.

Press Release NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX Quarterly Update April – June 2013 (26 cities)

NATIONAL HOUSING BANK , New Delhi August 26, 2013  Press Release NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX
Quarterly Update April-June, 2013 (26 cities)

NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis. This is being done since 2007.

From the quarter January-March, 2013 NHB RESIDEX has been expanded to include 6 new cities namely Chandigarh, Coimbatore, Dehradun, Meerut, Nagpur and Raipur. The NHB RESIDEX now covers 26 cities. This latest NHB RESIDEX for the quarter April-June, 2013 covers 26 cities, with base year as 2007. The Residex for the quarter April-June, 2013 constructed for 26 cities has taken into account the price trends for residential properties in different locations and zones in each city. Data on the transactions are collected from diverse sources and are classified, validated and applied to the model designed to give the representative Index for each city. The data based on actual transactions are put through a Model that depicts the trend in the market. The Residex is expected to bring greater uniformity and standardisation as well as greater transparency in the valuation of properties across the industry. Price Movement for the quarter April-June, 2013 (26 Cities) The movement in prices of residential properties for the quarter April-June 2013 has shown declining trend in majority of the cities (22 out of 26 cities covered) ranging from -0.45% in Mumbai to -5.99% in Ludhiana, and rise in four cities ranging from 0.55% in Dehradun to 3.07% in Nagpur during the quarter April-June, 2013 in comparison to the previous quarter January-March, 2013.

Rising Trend: Residential housing prices in 4 cities have shown increase in prices in this quarter ended June, 2013 (April-June, 2013) over the previous quarter ended March, 2013 (January-March, 2013). Maximum increase was observed in Nagpur (3.07%) followed by Lucknow (2.19%), Surat (1.43%) and Dehradun (0.55%).

Declining Trend: 22 cities have shown decline in prices over the previous quarter with maximum fall observed in Ludhiana (-5.99%) followed by Indore (-5.64%), Vijaywada (-5.43%), Hyderabad (-4.55%), Kolkata (-4.06%), Guwahati (-3.92%), Kochi (-3.37%), Patna (-3.29%), Coimbatore (-3.26%), Ahmedabad (-3.13%), Faridabad (-2.42%), Chennai (-2.26%), Jaipur (-1.79%), Chandigarh (-1.55%), Delhi (-1.49%), Bhopal (-1.30%), Meerut (-1.05%), Bhubneshwar (-1.02%), Bengaluru (-0.92%), Pune (-0.90%) , Raipur (-0.65%) and Mumbai (-0.45%).

Press Release NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX Quarterly Update January-March, 2013 (26 cities)

NATIONAL HOUSING BANK, New Delhi May 26, 2013 

NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis. This is being done since 2007.

From the quarter January-March, 2013 NHB RESIDEX has been expanded to include 6 new cities namely Chandigarh, Coimbatore, Dehradun, Meerut, Nagpur and Raipur. The NHB RESIDEX now covers 26 cities. This latest NHB RESIDEX for the quarter January-March, 2013 covers 26 cities, with base year as 2007. The Residex for the quarter January-March, 2013 constructed for 26 cities has taken into account the price trends for residential properties in different locations and zones in each city. Data on the transactions are collected from diverse sources and are classified, validated and applied to the model designed to give the representative Index for each city. The data based on actual transactions are put through a Model that depicts the trend in the market. The Residex is expected to bring greater uniformity and standardisation as well as greater transparency in the valuation of properties across the industry. Price Movement for the quarter January-March, 2013 (26 Cities) The movement in prices of residential properties has shown increasing trend in twelve (out of 20 cities already being covered) cities ranging from 0.52% in Indore to 28.74% in Jaipur, and correction in eight  cities ranging from -0.54% in Vijaywada to -7.84% in Guwahati during the quarter January-March, 2013 in comparison to the previous quarter October-December, 2012. The Index for the quarter January-March, 2013 has witnessed increase in property prices in majority of the cities over the previous quarter.

The six new cities added from the period January-March, 2013 have shown increase in the prices compared to the Base Year 2007 with maximum increase witnessed in Chandigarh (94%) followed by Meerut (91%), Coimbatore (84%), Dehradun (83%), Nagpur (63%) and Raipur (56%). Rising Trend: Residential housing prices in 12 cities have shown increase in prices in this quarter ended March, 2013 (January-March, 2013) over the previous quarter ended December, 2012 (October-December, 2012). Maximum increase was observed in Jaipur (28.74%) followed by Bhubneshwar (14.54%), Pune (7.81%), Bhopal (6.49%), Delhi (3.59%), Bengaluru (2.83%), Mumbai (2.31%), Kochi (2.30%), Faridabad (0.98%), Patna (0.67%), Ahmedabad (0.53%) and Indore (0.52%). Declining Trend: 8 cities have shown decline in prices over the previous quarter with maximum fall observed in Guwahati (-7.84%) followed by Ludhiana (-6.71%), Surat (-6.67%), Kolkata (-5.75%), Lucknow (-3.18%), Hyderabad (-2.23%), Chennai (-1.28%) and Vijaywada (-0.54%).

1.    Scope and Coverage of the Index NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis. This is being done since 2007.

From the quarter January-March 2012, NHB Residex has been further expanded to cover 5 (Five) more cities viz. Bhubaneshwar, Guwahati, Ludhiana, Vijayawada and Indore. The NHB RESIDEX now covers 20 cities. The Index for Delhi includes property transactions of Gurgaon, Noida, Greater Noida and Ghaziabad thereby expanding its coverage to National Capital Region (NCR).

This latest NHB RESIDEX for the quarter October-December, 2012 covers 20 cities, with base year as 2007. The Residex for the quarter October-December, 2012 constructed for 20 cities has taken into account the price trends for residential properties in different locations and zones in each city. Data on the transactions are collected from diverse sources and are classified, validated and applied to the model designed to give the representative Index for each city. The data are put through a Model that depicts the trend in the market. The Residex is expected to bring greater uniformity and standardisation as well as greater transparency in the valuation of properties across the industry. 2.  Price Movement for the quarter October-December, 2012 (20 Cities) The movement in prices of residential properties has shown increasing trend in eighteen cities ranging from 0.6% in Chennai to 9.6% in Delhi & Mumbai, and fall in only two cities namely Indore (-1.0%) and Faridabad (-5.1%) during the quarter October-December, 2012 in comparison to the previous quarter July-September, 2012. The Index for the quarter October-December, 2012 has witnessed significant increase in property prices in majority of the cities over the previous quarter. Rising Trend: Residential housing prices in 18 cities have shown increase in prices in this quarter ended December, 2012 (October-December, 2012) over the previous quarter ended September, 2012 (July-September, 2012). Maximum increase was observed in Mumbai (9.6%) followed by Delhi (9.6%), Kolkata (9.4%), Patna (9.4%), Kochi (8.8%), Surat (8.7%), Bengaluru (8.2%), Lucknow (8.0%), Hyderabad (7.1%), Ludhiana (6.5%), Ahmedabad (6.1%), Guwahati (5.1%), Bhopal (4.9%), Bhubneshwar (2.4%), Jaipur (2.4%), Vijayawada (2.2%), Pune (2.0%) and Chennai (0.6%). Declining Trend: 2 cities have decline in prices over the previous quarter namely Faridabad (-5.1%) and Indore (-1.0%).

Overall impression: In majority of the cities prices are witnessing upward trend. CITY WISE HOUSING PRICE INDEX FOR THE QUARTER OCTOBER-DECEMBER, 2012

NHB Organized Drawing Competition

The National Housing Bank which has entered its Silver Jubilee Year on 9th July, 2012 has been organizing  a series of Silver Jubilee events in different parts of the country. One of the Events in the Series was a drawing competition organized in Nagar Palika Senior Secondary School, Lodhi Road, New Delhi by the Bank on 29.12.2012.  The School caters to the very poor households who send their children for education which is almost 100% subsidised. Nearly, 54 students from Class V to X participated and exhibited their talents using pencils and water colours with the theme of “MERE SAPNO KA GHAR“. Despite the chilly weather of Delhi, students were full of enthusiasm. As reflected in their drawings, the expression “Mere Sapno ka Ghar” was not restricted to the mere structure of a house. One thing which was almost common in all drawings was a house surrounded with greenery. This is one dream that we all share.” Seen in the photograph is CMD, National Housing Bank, RV Verma, togetherwith the Principal and Tutors of the School sharing this pleasant moment with the children.

NHB RESIDEX – Quarterly Update July-September, 2012 (20 cities)

1.    Scope and Coverage of the Index

NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis. This is being done since 2007.

From the quarter January-March 2012, NHB Residex has been further expanded to cover 5 (Five) more cities viz. Bhubaneshwar, Guwahati, Ludhiana, Vijayawada and Indore. The NHB RESIDEX now covers 20 cities. The Index for Delhi has been expanded to cover Gurgaon, Noida, Greater Noida and Ghaziabad thereby expanding its coverage to National Capital Region (NCR). From April-June, 2012 onwards the Index of Delhi covers National Capital Region (NCR).

This latest NHB RESIDEX for the quarter July-September, 2012 covers 20 cities, with base year as 2007. The Residex for the quarter July-September, 2012 constructed for 20 cities has taken into account the price trends for residential properties in different locations and zones in each city. Data on the transactions are collected from diverse sources and are classified, validated and applied to the model designed to give the representative Index for each city. The data are put through a Model that depicts the trend in the market. The Residex is expected to bring greater uniformity and standardisation as well as greater transparency in the valuation of properties across the industry.

2.  Price Movement for the quarter July-September, 2012 (20 Cities) The movement in prices of residential properties has shown marginally declining  trend in eleven cities ranging from -0.4% in Faridabad to -4.8% in Surat, and rise in nine cities ranging from 0.5% in Mumbai to 10.1% in Kochi during the quarter July-September, 2012 in  comparison to the previous quarter April-June 2012. The Index for the quarter July-September, 2012 has witnessed marginal decline/ increase in property prices in majority of the cities over the previous quarter except in Jaipur and Kochi which have witnessed significant increases. Rising Trend: Residential housing prices in 9 cities have shown marginal increase in prices in this quarter ended September, 2012 (July-September, 2012) over the previous quarter ended June, 2012 (April-June, 2012). Maximum increase was observed in Kochi (10.1%) followed by Jaipur (9.0%), Delhi (3.8%), Ahmedabad (3.0%), Bhubaneshwar (2.3%), Lucknow (2.2%), Chennai (0.8%), Pune (0.7%) and Mumbai (0.5%). Declining Trend: 11 cities have shown marginal decline in prices over the previous quarter with maximum decline observed in Surat (-4.8%) followed by Indore (-3.54%), Kolkata (-2.4%), Vijayawada (-2.4%), Patna (-1.8%), Ludhiana (-1.7%), Bengaluru (-1.7%), Hyderabad (-1.3%), Guwahati (-0.7%), Bhopal (-0.5%) and Faridabad (-0.4%). Overall impression about the Trend: Prices starting to decline in some smaller towns and the increase in other cities is mostly marginal, barring Kochi and Jaipur. There are some signs of convergence of prices around this level across the 20 cities.

 CITY WISE HOUSING PRICE INDEX FOR THE QUARTER JULY-SEPTEMBER, 2012

Conference on Reverse Mortgage Loan (RML) & Launch of NHB’s RML Counselling Centre at Patna, August 27, 2012

National Housing Bank (NHB), the apex housing finance institution, opened its first Reverse Mortgage Loan (RML) Counseling Centre for Senior Citizens at Patna in association with HelpAge India on August 27, 2012. The Centre was launched by  Shri H.R. Khan, Deputy Governor, Reserve Bank of India in the presence of Shri R. V. Verma, CMD, NHB, Shri P.K.Jena, Regional Director, RBI, Patna, Shri D. V. Deshpande, CGM, NABARD, other senior officials of Banks and HFCs & Dr Harvinder Bakshi, National Director of HelpAge India. This is the 13th such RML Counseling Centre in the country established by NHB in association with HelpAge India and other industry partners.

To mark the launch of the Patna RML Counseling Centre, NHB organized a Conference for the Senior Citizens and executives from Banks and Housing Finance Companies at RBI, Patna. While inaugurating the Centre, Shri Khan lauded the initiative of NHB regarding launch of RML and its RML Counselling Centres. Deputy Governor, RBI also urged the banking community to popularize the Scheme that has been designed to assist senior citizens community and ensure that the benefits under the Scheme are made available to them. He also advised them to deal with the Scheme with sensitivity and compassion for the senior citizen community.

Shri R.V. Verma, CMD, NHB in his opening remarks highlighted the role played by NHB in formulation and promotion of the Reverse Mortgage Scheme and in capacity building and awareness generation about the Scheme. He also mentioned that NHB was celebrating its Silver Jubilee year during which the Bank would be organizing more such events and launch new products and Schemes for the housing sector. One such initiative will be the launch of Mortgage Counselling initiative across the country in respect of regular mortgages (housing loans) also, in partnership with Indian Institute of Banking & Finance (IIBF). The Conference also included a detailed presentation on the Reverse Mortgage Scheme and an interactive session with the bankers and the senior citizens Individual Prize winners are being intimated separately. The prizes shall be awarded during the World Habitat Day celebrations in 2012. Details of the same would be intimated to the prize winners shortly.

World habitat day 2011 celebrations Results of world habitat day 2011 essay competition

WORLD HABITAT DAY 2011 CELEBRATIONS RESULTS OF WORLD HABITAT DAY 2011 ESSAY COMPETITION

The results of the Essay competition organized by the National Housing Bank on the occassion of the World Habitat Day 2011 are as under:

Individual Prize winners are being intimated separately. The prizes shall be awarded during the World Habitat Day celebrations in 2012. Details of the same would be intimated to the prize winners shortly.

Press Release NHB Residex – Residential Housing Price Index Quarterly Update April-June, 2012 (20 Cities)

Scope and Coverage of the Index NHB RESIDEX tracks the movement in prices of residential properties on a quarterly basis. This is being done since 2007.

From the quarter January-March 2012, NHB Residex has been further expanded to cover 5 (Five) more cities viz. Bhubaneshwar,
Guwahati, Ludhiana, Vijayawada and Indore. The NHB RESIDEX now covers 20 cities. This latest NHB RESIDEX for the quarter April – June, 2012 covers 20 cities, with base year as 2007. The Index for Delhi has been expanded to cover Gurgaon, Noida, Greater Noida and Ghaziabad thereby expanding its coverage to National Capital Region (NCR). Thus, from April-June, 2012 onwards the Index of Delhi would cover National Capital Region (NCR). The Residex for the quarter April – June, 2012 constructed for 20 cities has taken into account the price trends for residential properties in different locations and zones in each city. Data on the transactions are collected from diverse sources and are classified, validated and applied to the model designed to give the representative Index for each city. The data are put through a Model that depicts the trend in the market. The Residex is expected to bring greater uniformity and standardisation as well as greater transparency in the valuation of properties across the industry. 2.  Price Movement for the quarter April-June, 2012 (20 Cities) The movement in prices of residential properties has shown increasing trend in sixteen cities (ranging from 1.1% in Kochi to 10.5% in Pune), and marginal decline in three cities while one city has shown stable price level under NHB RESIDEX during the quarter April-June, 2012 in comparison to the previous quarter January-March 2012. The Index for the quarter April-June, 2012 has witnessed marginal increase/decrease in property prices in majority of the cities over the previous quarter except in Pune, Patna and Bengaluru which have witnessed significant increases. Hyderabad, Jaipur and Indore have witnessed corrections in the property prices as compared to last quarter. Faridabad has remained stagnant in this quarter. Rising Trend: Residential housing prices in 16 cities have shown rise in prices in this quarter ended June, 2012 (April-June, 2012) over the previous quarter ended March, 2012 (January-March, 2012). Maximum increase was observed in Pune (10.5%) followed by Bengaluru (8.7%), Patna (8.6%), Ahmedabad (6.4%), Ludhiana (5.3%), Lucknow (4.1%), Mumbai (3.7%), Delhi (2.6%), Kolkata (2.6%), Bhubaneshwar (1.7%), Bhopal (1.7%), Chennai (1.7%), Surat (1.2%), Guwahati (1.2%), Vijaywada (1.1%) and Kochi (1.1%). Declining Trend: 3 cities have shown marginal decline in prices over the previous quarter with maximum decline observed in Jaipur (-2.6%), Indore (-2.4%) and Hyderabad  (-1%).

National Housing Bank (NHB) conferred with “Best Employer Brand Award”

National Housing Bank (NHB) conferred with “Best Employer Brand Award” National Housing Bank (NHB) was conferred with “Best Employer Brand Award” at the IPE BFSI Awards 2012 (Institute of Public Enterprise Banking Financial Services & Insurance) at Mumbai. The award is an appreciation for NHB’s HR practices, benchmarking talent and contribution to HR. The IPE BFSI Awards are endorsed by the Asian Confederation of Businesses Supported by Stars of the Industry Group in Association with Thought Leaders International.

NHB launches Silver Jubilee Year Celebrations

The National Housing Bank (NHB), the apex institution for housing finance in the country entered into its 25th year on 9th July, 2012. To commemorate this important milestone in the journey of the institution, NHB organized the Inaugural Event for the year long Silver Jubilee Celebrations on 9th July, 2012 at New Delhi. The Event was graced by the important Guests viz. Kumari Selja, Minister for Housing & Urban Poverty Alleviation and Minister of Culture, Chairman, Economic Advisory Council to the Prime Minister, Dr C Rangarajan and the Minister of State for Finance, Mr Namo Narain Meena.

The Event commenced with the welcome remarks by CMD, NHB R V Verma, who highlighted the background of setting up of the NHB and the journey since. He acknowledged the contribution made by various stakeholders as partners in the NHB’s initiatives and Programmes leading to the growth and expansion of the housing finance system.

In her Inaugural Address, the Hon’ble Minister for Housing & Urban Poverty Alleviation and Minister of Culture, Kumari Selja, highlighted the role and contribution of NHB in the development of the housing sector in the country. Enabling the establishment of a diversified base of mortgage lending institutions, integrating the housing finance market with the overall economic system, augmenting credit flow to various segments of the population, and boosting investor confidence in the sector, were highlighted as some of the important milestone  achievements of NHB during the nearly 2½ decades of its existence. In her address the Minister emphasized the importance of improving flow of housing credit to the lower income segments in view of the huge housing shortage in the country. She called upon all the stakeholders to work in a concerted manner in partnership mode to achieve the Government’s goal of ‘Affordable Housing for All’ and expressed the confidence that NHB, as the apex institution in the sector, will continue to make important contribution to these initiatives. While expressing satisfaction over NHB’s role and contribution to the growth and development of the housing finance system, she called upon the NHB to play a lead role in harnessing the full potential of the system in order to address the problem of affordable housing in the country.

Dr. C. Rangarajan, who was the Chairman of the Working Group which recommended the establishment of the National Housing Bank as the apex body for promotion and development of the sector, touched upon the background for creation of this apex institution and its important roles in sectoral development. While commending the role played by NHB in fulfilling the objectives for which it was set up,  Dr. Rangarajan also stressed the need to strike a judicious balance between regulation and innovation, as also the need for customer protection and customer education. In his address he made an important reference to the sub-prime lending in the US that eventually triggered the global crisis. He expressed hope and confidence that the Indian market has evolved  along sound lending practices which has been reinforced by the NHB’s oversight supervisory function. Lauding the role of NHB, he expressed confidence that the Bank will continue to play a key role in promotion of housing sector and the housing finance industry in the country in the best interest of the borrower community with due regard to the stability of the market.

Shri Namo Narain Meena, the Hon’ble Minister of State for Finance, in his special address, highlighted some of the key achievements of NHB including the role played in creating a sound and enabling environment for the housing finance system. He also highlighted the capacity created within the financial sector to serve the diverse housing needs of different segments of the population across the geographical regions in the country. He further observed that the sector has attained  good depth, outreach and stability to serve the market in a sustainable manner. He attributed these developments to the important role played by NHB.  In his address he also highlighted the importance of market infrastructure development which NHB is promoting for a robust and vibrant market. Shri Meena outlined some of the pronouncements of the Union Budget 2012 for the housing sector and expressed  confidence that these measures will bring value to the industry and the various stakeholders particularly in the affordable housing segment.

The Event marked the launch of NHB’s new Logo and its new website –  a mark of continuity with change in the changing times but reflecting its enduring values.

In keeping with NHB’s focus on promoting ‘inclusive housing’, a Special Refinance Scheme for Urban Low Income Housing, was launched by the Hon’ble Minister for Housing and Urban Poverty Alleviation, Kumari Selja. She lauded this initiative of the NHB to provide for long term funds to retail lending institutions at lower interest rates to enable these institutions to increase their housing credit flow to the lower income segments in urban areas. The Scheme covers loans upto Rs.5 lakh extended to households having monthly income of not more than Rs.15,000 for purchase/acquisition of house. Since the refinance assistance will be extended by NHB at lower than market rates, the lending institutions would be expected to pass on the benefit of lower interest rates to the ultimate borrowers. The Scheme aims to improve affordability by providing refinance at fixed lower interest rate for a long term ranging 10-15 yrs resulting in considerable reduction in EMIs and also hedging against interest rate volatility. The launch of the Scheme at this juncture is very timely as it coincides with the formation of the Mortgage Credit Guarantee Trust Fund and the operation of Rajiv Awas Yojana (RAY). Given the common focus of these Programmes/Schemes, the combined outcome is bound to be encouraging and positive. NHB also launched a Refinance Scheme for Installation of Solar Water Heating and Solar Lighting Equipments in Homes, to promote the use of solar equipment in the domestic context so as to conserve energy and reduce dependence on fossil fuels. The launch of this Scheme is another step in NHB’s efforts to promote energy efficient homes. The Bank is already operating a refinance scheme wherein the retail lending institutions can avail refinance assistance from the Bank in respect of their housing loans extended for energy efficient housing. The newly launched scheme for solar equipments, which covers retail loans upto Rs.50,000 is expected to go a long way towards improving the penetration and usage of solar lighting and solar water heating equipments in homes.

At this important Event, NHB also announced its initiative to document the evolution of the housing finance system in India including an elaborate commentary and analysis of this growth story covering various aspects of the sector, impediments, challenges and important Policies – fiscal and monetary & credit, regulatory etc. that had a bearing on the nature and direction of development of the housing finance market through the years. The role of the NHB will also form an important part of this publication. Interestingly the Book cover was launched by Dr C Rangarajan who also happened to head the High Level Working Group on Housing Finance under the Seventh Five Year Plan whose recommendations led to the formation of the NHB.

Other speakers at the Event included Secretary, MHUPA, Mr A K Misra, Deputy Governor, RBI Mr H R Khan. The Event was attended by senior executives of the Government, CEOs/CMDs/ED’s of Banks, HFCs, multi-lateral institutions, R & D bodies including former CMD’s and employees of NHB, besides its present officers.

CMD, NHB R V Verma in his remarks, also mentioned that the Silver Jubilee Year celebrations of NHB will entail a number of Events throughout the year including book launches, conferences, seminars and other research-oriented knowledge initiatives with national and global participation.

NHB RESIDEX – Quarterly Update January-March, 2012 (20 cities) Press Release

NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX

Quarterly Update January-March, 2012 (20 cities)

1.    Scope and Coverage of the Index The last updation of NHB Residex for the quarter October-December 2011 covered 15 cities. From January 2012, NHB-Residex has been further expanded to cover 5 (Five) more cities viz. Bhubaneshwar, Guwahati, Ludhiana, Vijayawada, and Indore, taking the total number to 20. The first time NHB Residex in 2007 was for 5 cities.

This latest NHB RESIDEX for the quarter Jan-March 2012 thus covers 20 cities, including for the first time the above 5 new cities, whose price trends have also been tracked with base year as 2007.

The Residex for the quarter January-March 2012 constructed for 20 cities has taken into account the price trends for residential properties in different locations and zones in each city. Data on the transactions are collected from different/diverse sources and are classified, validated and applied to the model designed to give the representative Index for each city. The data are put through a Model that depicts the trend in the market. The Residex is expected to bring greater uniformity and standardisation as well as greater transparency in the valuation of properties across the industry. 2.    Uses of NHB RESIDEX The Index also helps the general consumers and property buyers and borrowers in their decision-making by enabling comparisons over time and across cities and localities based on the emerging trends. The Residex also provides insights into the property market for the lending agencies in their credit evaluation and assessment of the value (present and potential) of the security against the loan. NHB RESIDEX can be a useful indicator for estimating the value of property to be financed and also for assessing the value of security cover on the outstanding loan. Builders and developers may also benefit from the index by assessing the demand scenario in a locality, and mapping the housing needs in different parts of the country. NHB RESIDEX may be useful to policy makers, banks, housing finance companies, builders, developers, investors and individuals. 3.  Price Movement for the quarter January-March, 2012 (20 Cities) The movement in prices of residential properties has shown increasing trend in five cities and decline in ten cities covered under NHB RESIDEX during the quarter January-March, 2012 in comparison to the previous quarter. The Index for the quarter January-March 2012 has witnessed moderation/ stable property prices in majority of the cities over the previous quarter except in Jaipur and Hyderabad which have witnessed significant increases. Kochi, Bengaluru and Patna witnessed significant corrections. Rising Trend: Residential housing prices in 5 cities have shown rise in prices in this quarter ended March 2012 (January-March 2012) over the previous quarter ended December, 2011 (October-December, 2011). Maximum increase was observed in Jaipur (25%) followed by Hyderabad (8.9%), Chennai (2.8%), Kolkata (0.5%) and Delhi (0.6%), New 5 Cities: In case of new 5 cities now covered under the Residex from the period January-March, 2012, the prices of the residential properties in all the new cities have shown increasing trends in comparison to the prices in the Base Year 2007. The maximum increase was observed in Indore (108%) followed by Vijayawada (84%), Ludhiana (63%), Bhubaneswar (61%) and Guwahati (57%) in comparison to base year prices in 2007. Declining Trend: 10 cities have shown decline in prices over the previous quarter with maximum decline observed in Kochi (-12.2%) followed by Bengaluru (-8%), Patna (-7.9%), Surat (-5.3%), Bhopal (-3.3%), Pune (-1.6%), Ahmedabad (-1.8%), Mumbai (1.6%), Lucknow (-0.6%) and Faridabad (-0.5%).

33rd CEOs Meeting of HFCs, PSBs and Select RRBs held on 20.042012 – Presentations

NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX Quarterly Update October-December, 2011

1. Scope and Coverage of the Index NHB RESIDEX tracks the housing prices in the select 15 cities. The latest Residex is for the quarter October-December 2011. The Residex has been constructed for 15 cities and has taken into account the price trends for residential properties in different locations and zones in each city as per classification devised for the purpose. The classification has been designed so as to give the most representative Index for each city based on the transactions in the market and data collected from various sources. The data are put through a Model that depicts the actual behaviour of the market and throws up the Index. This initiative seeks to provide a better understanding of the trends in the Residential property market and its various nuances. The trends also seek to bring greater transparency in the property market. As the Residex evolves, it is expected to bring greater uniformity and standardisation in the valuation of properties across the industry. 2. Uses of NHB RESIDEX  The Index also helps the general consumers and property buyers and borrowers in their decision-making by enabling comparisons over time and across cities and localities and the emerging trends. This information has a critical bearing on the credit evaluation by the lenders and assessment of the value (present and potential) of the security against the loan. NHB RESIDEX can be a useful indicator for estimating the value of property to be financed and also for assessing the value of security cover on the outstanding loan. Builders and developers may also benefit from the index by assessing the demand scenario in a locality, and mapping the housing needs in different parts of the country. NHB RESIDEX may be useful to policy makers, banks, housing finance companies, builders, developers, investors and individuals. 3.  Price Movement for the quarter October-December 2011 The movement in prices of residential properties has shown increasing trend in nine cities and decline in five cities covered under NHB RESIDEX during the quarter October-December, 2011 in comparison to the previous quarter. However, the property prices during quarter i.e. October – December 2011, have not witnessed significant fluctuations/corrections due to moderation in demand, real estate firms/construction agencies holding land banks and slow down of launching of new residential projects and/or progress of the existing projects. Rising Trend: Residential housing prices in 9 cities have shown rise in prices in this quarter ended December, 2011 (October-December, 2011) over the previous quarter ended September, 2011 (July-September, 2011). Maximum increase was observed in Surat (9.4%) followed by Chennai (9.2%), Pune (8.9%), Delhi (8.4%), Bengaluru (7.5%), Lucknow (7.1%), Faridabad (5.8%), Ahmedabad (2.5%) and Bhopal (1.4%).

Declining Trend: 6 cities have shown decline in prices over the previous quarter with maximum decline observed in Kochi (-15.5%) followed by Hyderabad (-6.0%), Jaipur (-1.5%), Patna (-0.7%), Kolkata (-0.5%) and Mumbai (-0.5%).

CITY WISE HOUSING PRICE INDEX

CITY WISE HOUSING PRICE INDEX (UPDATING UP TO QUARTER OCTOBER- DECEMBER 2011)

R V Verma, CMD, National Housing Bank elected as Chairman of the Advisory Board of APUHF

At a Meeting of the Advisory Board of the Asia Pacific Union for Housing Finance (APUHF – a Regional body for Asia/Pacific countries) held in New Delhi on January 31, 2012, R V Verma, Chairman and Managing Director, National Housing Bank was unanimously elected as the Chairman of the APUHF. He succeeds Mr Abdul Qadeer Fitrat, Former Governor, Central Bank of Afghanistan.

The membership of the Advisory Board of the Union was also expanded to include representatives from Indonesia and Mongolia besides the existing members from Pakistan, Bangladesh, Sri Lanka and Thailand.

The meeting of the Advisory Board was also attended by representatives from the World Bank who joined as Special Invitees.

The Report on Trend and Progress of Housing in India, 2011 – an annualpublication of the National Housing Bank, was released by the Hon’bleMinister for Housing and Urban Poverty Alleviation and Union Minister forCulture, Government of India Kumari Selja

The Report on Trend and Progress of Housing in India, 2011 – an annual publication of the National Housing Bank, was released by the Hon’ble Minister for Housing and Urban Poverty Alleviation and Union Minister for Culture, Government of India Kumari Selja during the recent International Conference on “Growth with Stability in Affordable Housing Markets” held in New Delhi during January 30-31, 2012.

The Report on Trend and Progress of Housing in India 2011, captures the trend and performance of the sector as also the performance of lending institutions against the backdrop of economic and Policy framework, domestic and global.

Kumari Selja, Hon’ble Minister for Housing and Urban Poverty Alleviation and Union Minister for Culture, Government of India alongwith R V Verma, Chairman and Managing Director, NHB, A K Misra, Secretary, MHUPA, Arun Maira, Member, Planning Commission and Deepak S Parekh, Chairman HDFC at the release of NHB Report on Trend & Progress of Housing in India, 2011

The Report outlines and analyses the performance of the sector and of the key lending institutions in housing finance viz. Housing Finance Companies, Banks, MFIs, RRBs and cooperative sector institutions on parameters including housing loan portfolio, loan size and geographical spread, loan tenure, quality of assets etc. during the year 2010-11. The Report also outlines the key Policy announcements, regulatory developments, property market trends and the new initiative of “Central Registry”.

The Report has brought out the twin issues of “Scales” and “Affordability” as key challenges in the sector, emphasizing the need for market-based approach as a longer term most sustainable solution. Issues pertaining to land, legislation, urbanization, technology, finance, risk assessment and mitigation tools are some of the issues that the Report has highlighted as key elements in the Policy framework for affordable housing in the country.

The outlook for the housing finance sector is identified as positive, with the development of “market infrastructure”, instruments and institutions playing a key role in expansion and stability of the mortgage market in the country. The Report recognizes the financial sector developments – both global and national – in their potential impact on the real estate and housing finance markets in India.

NHB RESIDEX – Residential Housing Price Index for Quarterly Update of July-September, 2011

1. Scope and Coverage of the Index NHB RESIDEX tracks the housing prices in the select 15 cities. The latest Residex is for the quarter July-September 2011. The Residex has been constructed for 15 cities and has taken into account the price trends for residential properties in different locations and zones in each city as per classification devised for the purpose. The classification has been designed so as to give the most representative Index for each city based on the transactions in the market and data collected from various sources. The data are put through a Model that depicts the actual behaviour of the market and throws up the Index. This initiative seeks to provide a better understanding of the trends in the Residential property market and its various nuances. The trends also seek to bring greater transparency in the property market. As the Residex evolves, it is expected to bring greater uniformity and standardisation in the valuation of properties across the industry. 2. Uses of NHB RESIDEX  The Index also helps the general consumers and property buyers and borrowers in their decision-making by enabling comparisons over time and across cities and localities and the emerging trends. This information has a critical bearing on the credit evaluation by the lenders and assessment of the value (present and potential) of the security against the loan. NHB RESIDEX can be a useful indicator for estimating the value of property to be financed and also for assessing the value of security cover on the outstanding loan. Builders and developers may also benefit from the index by assessing the demand scenario in a locality, and mapping the housing needs in different parts of the country. NHB RESIDEX may be useful to policy makers, banks, housing finance companies, builders, developers, investors and individuals. 3. Price Movement for the quarter July-September 2011  The movement in prices of residential properties has shown decreasing trend in nine cities covered under NHB RESIDEX during the quarter July-September, 2011 in comparison to the previous quarter. However, on year-on-year basis, except 2 cities, price movements in all the cities have witnessed increase. Rising Trend: Residential housing prices in 6 cities have shown rise in prices in this quarter ended September, 2011 (July-September, 2011) over the previous quarter ended June, 2011 (April-June, 2011). The city which has shown the maximum increase is Pune (13%) followed by Chennai (9%), Mumbai (7%), Delhi (5%), Jaipur (2%) and Bengaluru (1%). Declining Trend: There are 9 cities which have shown decline in prices over the previous quarter with maximum fall shown by Kochi (-9%) followed by Hyderabad (-8%), Bhopal (-7%), Surat (-7%), Faridabad (-6%), Ahmedabad (-4%), Lucknow (-4%), Patna (-3%) and Kolkata (-2%).

CITY WISE HOUSING PRICE INDEX

CITY WISE HOUSING PRICE INDEX (UPDATED UPTO QUARTER JULY- SEPTEMBER 2011)