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Press Release NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX Quarterly Update

Press Release NHB RESIDEX – RESIDENTIAL HOUSING PRICE INDEX Quarterly Update

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

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

CITIES 2007 Index Jul-Sept 2011 Index Oct-Dec 2011 Index Jan-Mar 2012 Index Apr-Jun 2012 Index Jul-Sep 2012 Index   Oct-Dec 2012 Index   Jan-Mar 2013 Index   Apr- Jun 2013 Index   July-Sep 2013 Index   Oct-Dec 2013 Index
Hyderabad

100

84

79

86

85

84

90

88

84

88

93

Faridabad

100

206

218

217

217

216

205

207

202

204

209

Patna

100

141

140

129

140

138

151

152

147

150

159

Ahmedabad

100

163

167

164

174

180

191

192

186

191

197

Chennai

100

271

296

304

309

312

314

310

303

318

330

Jaipur

100

65

64

80

78

85

87

112

110

108

105

Lucknow

100

154

165

164

171

175

189

183

187

191

185

Pune

100

169

184

181

200

201

205

221

219

219

235

Surat

100

139

152

144

145

138

150

140

142

145

154

Kochi

100

97

82

72

73

80

87

89

86

86

85

Bhopal

100

208

211

204

207

206

216

230

227

220

223

Kolkata

100

191

190

191

196

191

209

197

189

199

196

Mumbai

100

194

193

190

197

198

217

222

221

222

222

Bengaluru

100

93

100

92

100

98

106

109

108

107

111

Delhi

100

154

167

168

172

178

195

202

199

190

196

Bhubneshwar

100

161

164

168

172

197

195

193

202

Guwahati

100

157

159

158

166

153

147

149

160

Ludhiana

100

163

171

168

179

167

157

150

150

Vijayawada

100

184

186

181

185

184

174

167

161

Indore

100

208

203

196

194

195

184

180

184

Chandigarh

100

 

194

191

192

188

Coimbatore

100

 

184

178

178

173

Dehradun

100

 

183

184

184

186

Meerut

100

 

191

189

176

171

Nagpur

100

 

163

168

162

175

Raipur

100

 

156

155

157

159

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

CITIES 2007 Index Apr-Jun 2011 Index Jul-Sept 2011 Index Oct-Dec 2011 Index Jan-Mar 2012 Index Apr-Jun 2012 Index Jul-Sep 2012 Index   Oct-Dec 2012 Index   Jan-Mar 2013 Index   Apr- Jun 2013 Index   July-Sep 2013 Index
Hyderabad

100

91

84

79

86

85

84

90

88

84

88

Faridabad

100

220

206

218

217

217

216

205

207

202

204

Patna

100

146

141

140

129

140

138

151

152

147

150

Ahmedabad

100

169

163

167

164

174

180

191

192

186

191

Chennai

100

248

271

296

304

309

312

314

310

303

318

Jaipur

100

64

65

64

80

78

85

87

112

110

108

Lucknow

100

160

154

165

164

171

175

189

183

187

191

Pune

100

150

169

184

181

200

201

205

221

219

219

Surat

100

149

139

152

144

145

138

150

140

142

145

Kochi

100

107

97

82

72

73

80

87

89

86

86

Bhopal

100

224

208

211

204

207

206

216

230

227

220

Kolkata

100

194

191

190

191

196

191

209

197

189

199

Mumbai

100

181

194

193

190

197

198

217

222

221

222

Bengaluru

100

92

93

100

92

100

98

106

109

108

107

Delhi

100

147

154

167

168

172

178

195

202

199

190

Bhubneshwar

100

161

164

168

172

197

195

193

Guwahati

100

157

159

158

166

153

147

149

Ludhiana

100

163

171

168

179

167

157

150

Vijayawada

100

184

186

181

185

184

174

167

Indore

100

208

203

196

194

195

184

180

Chandigarh

100

 

194

191

192

Coimbatore

100

 

184

178

178

Dehradun

100

 

183

184

184

Meerut

100

 

191

189

176

Nagpur

100

 

163

168

162

Raipur

100

 

156

155

157

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.

inauguration-nhb-bhubaneswar

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.

water-sanitation-programme

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%).

Overall impression: Property prices in majority of the cities, 22 out of 26 are witnessing marginal downward trend.

CITY WISE HOUSING PRICE INDEX FOR THE QUARTER APRIL- JUNE, 2013

CITIES 2007 Index Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index Oct-Dec 2011 Index Jan-Mar 2012 Index Apr-Jun 2012 Index Jul-Sep 2012 Index   Oct-Dec 2012 Index   Jan-Mar 2013 Index   Apr- Jun 2013 Index
Hyderabad

100

83

91

84

79

86

85

84

90

88

84

Faridabad

100

165

220

206

218

217

217

216

205

207

202

Patna

100

146

146

141

140

129

140

138

151

152

147

Ahmedabad

100

165

169

163

167

164

174

180

191

192

186

Chennai

100

218

248

271

296

304

309

312

314

310

303

Jaipur

100

67

64

65

64

80

78

85

87

112

110

Lucknow

100

157

160

154

165

164

171

175

189

183

187

Pune

100

148

150

169

184

181

200

201

205

221

219

Surat

100

128

149

139

152

144

145

138

150

140

142

Kochi

100

86

107

97

82

72

73

80

87

89

86

Bhopal

100

167

224

208

211

204

207

206

216

230

227

Kolkata

100

211

194

191

190

191

196

191

209

197

189

Mumbai

100

175

181

194

193

190

197

198

217

222

221

Bengaluru

100

88

92

93

100

92

100

98

106

109

108

Delhi

100

126

147

154

167

168

172

178

195

202

199

Bhubneshwar

100

161

164

168

172

197

195

Guwahati

100

157

159

158

166

153

147

Ludhiana

100

163

171

168

179

167

157

Vijayawada

100

184

186

181

185

184

174

Indore

100

208

203

196

194

195

184

Chandigarh

100

 

194

191

Coimbatore

100

 

184

178

Dehradun

100

 

183

184

Meerut

100

 

191

189

Nagpur

100

 

163

168

Raipur

100

 

156

155

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%).

Overall impression: Property prices in majority of the cities are witnessing     marginal upward trend.

CITY WISE HOUSING PRICE INDEX FOR THE QUARTER JANUARY- MARCH, 2013

CITIES 2007 Index Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index Oct-Dec 2011 Index Jan-Mar 2012 Index Apr-Jun 2012 Index Jul-Sep 2012 Index   Oct-Dec 2012 Index   Jan-Mar 2013 Index
Hyderabad

100

83

91

84

79

86

85

84

90

88

Faridabad

100

165

220

206

218

217

217

216

205

207

Patna

100

146

146

141

140

129

140

138

151

152

Ahmedabad

100

165

169

163

167

164

174

180

191

192

Chennai

100

218

248

271

296

304

309

312

314

310

Jaipur

100

67

64

65

64

80

78

85

87

112

Lucknow

100

157

160

154

165

164

171

175

189

183

Pune

100

148

150

169

184

181

200

201

205

221

Surat

100

128

149

139

152

144

145

138

150

140

Kochi

100

86

107

97

82

72

73

80

87

89

Bhopal

100

167

224

208

211

204

207

206

216

230

Kolkata

100

211

194

191

190

191

196

191

209

197

Mumbai

100

175

181

194

193

190

197

198

217

222

Bengaluru

100

88

92

93

100

92

100

98

106

109

Delhi

100

126

147

154

167

168

172

178

195

202

Bhubneshwar

100

161

164

168

172

197

Guwahati

100

157

159

158

166

153

Ludhiana

100

163

171

168

179

167

Vijayawada

100

184

186

181

185

184

Indore

100

208

203

196

194

195

Chandigarh

100

 

 

 

 

 

 

 

 

194

Coimbatore

100

 

 

 

 

 

 

 

 

184

Dehradun

100

 

 

 

 

 

 

 

 

183

Meerut

100

 

 

 

 

 

 

 

 

191

Nagpur

100

 

 

 

 

 

 

 

 

163

Raipur

100

 

 

 

 

 

 

 

 

156

Interface of Financial Intelligence Unit-India (FIU-IND) with Housing Finance Companies

rastriya

NHB/CCC/26/2013

March 15, 2013

Press Release on “Interface of Financial Intelligence Unit-India (FIU-IND) with Housing Finance Companies”

We are sending herewith Press Release on “Interface of Financial Intelligence Unit-India (FIU-IND) with Housing Finance Companies”

fiu-ind

Shri R V Verma, CMD, National Housing Bank addressing the Principal Officers in the Interface session  of FIU-IND with HFCs organized on March 15, 2013 in its Head Office at New Delhi

Housing Finance Companies have certain obligations under the Prevention of Money Laundering Act, 2002 (PMLA) including reporting of large cash and suspicious transactions to FIU-IND as Cash Transaction Report (CTR) and Suspicious Transaction Report (STR).

To sensitize the registered Housing Finance Companies about the importance and development in the area of PMLA and to review their compliance of Know your customer Guidelines/Anti Money laundering norms,  National Housing Bank organized interface session for the Principal Officers of Registered Housing Finance Companies their Head office at Delhi  on March 15, 2013.

Shri  R. V. Verma, CMD, NHB in his inaugural remarks explained the rationale behind KYC/PMLA in the backdrop of the global concern regarding money Laundering and financing of terrorism.

Shri Rajendra Singh, Addl. Director, FIU-IND and Shri Pankaj Rajbanshi, Deputy Director, FIU-IND addressed the participants about the requirement under PMLA. They also expressed  concern in the area of money laundering and legal obligations of reporting suspicious transactions of HFCs  and also  Stressed the need for every HFC to have a structured mechanism in place for monitoring, filtering and reporting of suspicious transactions. Further, they have also highlighted the process of on-line reporting system also.

In his closing remarks, Executive Director, R S Garg, NHB advised the HFCs to ensure strict compliance of Know your customer Guidelines/Anti Money laundering norms not only because of requirement under law but also to safeguard their business operations.

PRESS RELEASE APUHF Enters into MoU with APMCHUD

The Asia Pacific Union for Housing Finance (APUHF), a  platform to act as a knowledge sharing and networking medium promoting  coalition and coordination among the Asia Pacific Countries in determining their housing and housing finance solutions entered into a Memorandum of Understanding with the Asia Pacific Ministerial Conference on Housing and Urban Development. an inter-ministerial body of the Asia Pacific countries, set up under the aegis of UN-HABITAT, having its permanent Secretariat located in New Delhi.
The MoU was signed during the  4th APMCHUD Conference held in Amman, Hashemite Kingdom of Jordan during December 10-12, 2012. The MoU was signed by Mr R V Verma, Chairman, APUHF and Chairman and Managing Director, National Housing Bank India on behalf of APUHF and Mr Susheel Kumar, Chief Coordinator, APMCHUD and Joint Secretary, MHUPA on behalf of APMCHUD. Further, for the benefit of the participating countries, a detailed presentation on the scope, objective and vision of APUHF was delivered at the Inaugural Session of the Conference by Chairman, APUHF Mr Verma. The MoU and the presentation has generated considerable interest in the network and its activities.
The MoU outlines the activities and areas of cooperation between the two regional networks including knowledge sharing, promotional activities, capacity building, joint research etc. It is expected that the joint collaboration between APMCHUD and APUHF would  lead to a mutually fruitful partnership between both Networks and will benefit all member countries and institutions.

apmchud

Mr R V Verma, Chairman- APUHF and CMD, NHB, India alongwith Chief Coordinator APMCHUD and Joint Secretary,
MHUPA Mr Susheel Kumar signing the MoU between APUHF and APMCHUD  on December 12, 2012 at Amman, Jordan

PRESS RELEASE NHB & CAFRAL Convene Seminar on Regulatory Regime for Mortgage Finance and Risk

The National Housing Bank (NHB) and the Centre for Advanced Financial Research and Learning (CAFRAL) jointly organized a half -day Seminar on Regulatory Regime for Mortgage Finance and Risk where Professor Tarun Ramadorai from University of Oxford, presented the findings of his paper on “Regulatory Regime for Mortgage Finance and Risk” for the industry stakeholders.  The Seminar was convened on December 20, 2012 at Mumbai and key stakeholders including Banks, Housing Finance Companies, Rating Agencies, International Financial Institutions besides Reserve Bank of India, CAFRAL, NHB participated in the Seminar.
The Seminar was chaired by Ms Usha Thorat, Director, CAFRAL alongwith Mr R V Verma, Chairman & Managing Director, NHB. The Panel for the Seminar comprised of Mr Keki Mistry, VC & CEO, HDFC, Mr R K Saraf, DMD, State Bank of India, Mr Naresh Takkar, MD & CEO, ICRA Ltd, Dr Sabri Oncu, Head-Reserach, CAFRAL, and Ms Mythili Bhusnurmath, Consulting Editor, Economic Times.
The Seminar deliberated on issues to understand the effects of regulation on mortgage risk, tracked the history of regulatory changes and based on loan level data understand how fast-changing regulation impacted mortgage lending and risk. Through the same, it is evidenced that regulation has important effects on mortgage rates and delinquencies in both the time-series and the cross-section.

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Ms Usha Thorat, Director, CAFRAL, Mr R V Verma, CMD, NHB with other Panelists at NHB-CAFRAL Seminar on Regulatory Regime for Mortgage Finance and Risk  held on December 20, 2012 at Mumbai

Press Release – NHB’s Conference on Reverse Mortgage Loan (RML) at Bhopal, November 30, 2012

National Housing Bank (NHB), the apex housing finance institution in association with HelpAge India organized a Conference on Reverse Mortgage Loan (RML) at Bhopal on November 30, 2012. The Conference is part of NHB’s promotional endeavour to generate awareness about the product amongst Senior Citizens and executives of Banks and Housing Finance Companies (HFCs).

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Shri R.V. Verma, CMD, NHB , Shri P.R. Ravi Mohan, Regional Director, RBI, Bhopal graced the event and addresses the gathering and Dr Harvinder Bakshi, National Director of HelpAge India headed the team from Helpage India . The Conference was attended by Senior Citizens and local senior officials of Banks and HFCs of Bhopal.

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 through such awareness building programmes. He also mentioned that during its Silver Jubilee year, the Bank would be organizing more of such events and will be launching new products and Schemes for the housing sector.

Shri P.R. Ravi Mohan, RD, RBI, Bhopal in his address appreciated the efforts of NHB in promoting the Scheme and he exhorted the bank and HFCs to spread awareness about scheme and promote its implementation. Dr. Harvinder Bakshi spoke on the role of the RML Counsellors in creating awareness on the Scheme and the continued support provided by HelpAge India in organizing such seminars and conferences in coordination with NHB.

Further, the Conference included a detailed presentation on the Reverse Mortgage Scheme and an interactive session with the bankers and the senior citizens.

 Press Release on Launch of Credit Risk Guarantee Fund Trust for Low Income Hou sing

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The Credit Risk Guarantee Fund Scheme for Low Income Housing was launched by Shri Ajay Maken, Hon’ble Union Minister for Housing & Urban Poverty Alleviation (MoHUPA) on 31st October, 2012 at New Delhi at a Function organised by the National Housing Bank (NHB). To mark the launch of the operations under the Scheme, three major lending agencies in the retail housing market, State Bank of India, Central bank of India and Housing Development Finance Corporation Ltd. (HDFC) entered into agreement with the Credit Guarantee Trust, which will be managed by the National Housing Bank.

The Credit Risk Guarantee Fund Trust for Low Income Housing was announced in the Union Budget and has been set up by the Government of India on 1st May, 2012 under the aegis of the Ministry of Housing and Urban Poverty Alleviation (MoHUPA).  The Trust has since been set up by MoHUPA and the Fund Trust will be managed by NHB which will also facilitate and oversee the operations of the Scheme. The Credit Risk Guarantee Fund Scheme for Low Income Housing has since been notified in the Gazette of India (July 7-13, 2012). The Scheme aims at facilitating flow of credit to the low income households in the EWS/LIG category from the formal financial sector.

Under the Scheme, the Fund will provide credit risk guarantee to the lending institutions against their housing loans upto  5 lakh for new borrowers in the EWS/LIG categories of population in Urban Areas without requiring any collateral security and/or third party guarantee. The extent of Guarantee Cover to be provided under the Scheme is 90% of the amount in default in respect of loan amount upto rupee symbol download, indian currency symbol 2 lakhs and 85% of the amount in default for housing loan above rupee symbol download, indian currency symbol2 lakh to rupee symbol download, indian currency symbol5 lakh.

The lending institutions eligible to avail benefit of the Guarantee cover under the Scheme of the Fund Trust are Scheduled Commercial Banks, Regional Rural Banks, Urban Co-operative Banks, NBFC-MFIs, Apex Cooperative Housing Finance Societies registered under the State Co-operative Societies Act and Housing Finance Institutions registered with National Housing Bank (NHB).

The guarantee Scheme will provide protection to the lenders against the default from the borrowers and will act as a credit risk mitigant for the lenders and will help in capital relief with lower risk weight on these loans.  It is envisaged that setting up of this Government-supported Guarantee Fund will help in addressing the housing needs of EWS/LIG segments of population in Urban Areas through a sustainable credit mechanism and improve home ownership and inclusive housing in the country.

Press Release on Half Yearly Financial Results of The Bank As on December 31, 2012

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The financial results of the Bank for the half-year ended December 31, 2012 were approved by the Board of National Housing Bank at its meeting held on 28th January, 2013

Highlights of the Working Results (Year on Year basis: Half-year ended December 31, 2012 as compared to Half-year ended December 31, 2011)

  1. Overall sanctions increased by over 7% from 14,692 Crore to 15,781 Crore while overall disbursements increased by around 17% from 8,108 Crore to 9,516 Crore.
  2. Total Income increased by around 28% from 1,122 Crore to 1,436 Crore.
  3. Operating Profit increased by over 35% from 282 Crore to 381 Crore.
  4. Profit before Tax (PBT) increased by over 34% from 254 Crore to 342 Crore.
  5. Profit after Tax (PAT viz., Net Profit) increased by around 40% from 167 Crore to 234 Crore.
  6. Outstanding loans increased by 29% from 25,576 Crore to 33,083 Crore.
  7. Outstanding borrowings increased by 22% from 25,118 Crore to 30,711 Crore.
  8. Total Assets increased by 22% from 29,183 Crore to 35,639 Crore.
  9. Gross NPA stood at 4.53 Crore (Previous Half-year-  1.02 Crore) and Net NPA stood at 3.75 Crore (Previous Half-year- 0.87 Crore) which was 0.011% of the total loans and advances as on 31.12.2012

Analysis and Comments

  1. Total income increased by 28% from 1,122 Crore in Dec-11 to 1,436 in  Dec-12 Crore while operating expenditure increased by 26% from 840 Crore to     1,055 Crore.
  2. Interest income went up by over 28% from 1,113.23 Crore to 1,430.14 Crore while interest expense went up by 26% from 823 Crore to 1,038 Crore during the current half-year.
  3. The increase in interest income is higher than the increase in interest expense. This has resulted in increase in the net interest incomes, which went up substantially by over 35%, and also increase in the interest spread.
  4. Non-interest income decreased by 30% from 8.50 Crore in Dec-11 to 5.95 Crore in       Dec-12.
  5. While staff expenses declined by around 10% from  4.07 Crore in Dec-11 to 3.68 Crore in Dec-12, other operating expense increased marginally by 2% from 12.84 Crore to 13.08 Crore during the half year ended Dec-12 over Dec-11. Decline in staff expenses is mainly due to reduction provision for gratuity from 0.63 Crore in     Dec-11 to 0.14 Crore in Dec-12.
  6. Debt-Equity Ratio at 9.06 times as on 31.12.2012 (8.54 times as on 31.12.2011).
  7. Net worth of the Bank went up by over 15% from 2,938 Crore to 3,388 Crore as a result of retention of profit by the Bank.
  8. Return on Average Assets increased from 1.22% to 1.40% while return on Net Worth increased from 11.40% to 13.83%.
  9. CRAR of the Bank as on 31.12.2012 stood at 16.83%.

General Comments

The Bank posted Net profit of Rs. 234 crores for the Half-year ended 31st December, 2012, an increase of 40% over the corresponding period of the Previous Year. The Bank also diversified its lending portfolio to cover larger number of institutions viz., banks, HFCs and RRBs. Out of the annual budgeted disbursement of Rs. 16,500 crores, the Bank disbursed a sum of Rs. 9516 crores during the Half-year ended 31st December, 2012, an increase of 17% from the earlier figure of Rs. 8,108 crores during the corresponding period of Previous Year. The outstanding portfolio of NHB at Rs. 33,083 crores is almost equally divided between the commercial banks and the HFCs. However, during the Half-year ended 31st December, 2012, the banks accounted for nearly 70% of the incremental refinance from NHB during the half-year.
Rural Housing portfolio of NHB accounts for nearly 41% of its total outstanding refinance. During the half-year ended 31st December, 2012, Rural Housing disbursements accounted for nearly 40% of the disbursements, loans upto Rs. 5 lakhs accounted for about 10%, loans upto 15 lakhs about 53% and loans upto Rs. 25 lakhs about 83% of the disbursements during the half-year.
NHB recently slashed its benchmark PLR by 25 basis points from 10% to 9.75% and reduced its lending rates also by 25 basis points for loans upto Rs. 10 lakhs.

Press Release on ‘International Conference on Housing Finance on Housing – An engine for Inclusive Growth’ held during April 11-13, 2013 in New Delhi, India

An International Conference on Housing Finance on the theme “Housing – An engine for Inclusive Growth” was organized during April 11-12, 2013 at New Delhi, India. The Conference was held under the combined aegis of National Housing Bank (NHB), the Asia Pacific Union for Housing Finance (APUHF) Forum, whose Secretariat is hosted by NHB, and the Asia Pacific Ministerial Conference on Housing and Urban Development (APMCHUD).  The Conference was inaugurated by the Hon’ble Union Minister of State for Finance, Shri Namo Narain Meena. The focus area of the Conference was housing as a contributor to inclusive growth. The programme was structured with a view to deliberate on a wide range of issues being faced by the housing and housing finance industry across the Asia Pacific region, as also the best practices across the globe.

The two-day conference saw participation from more than 200 eminent speakers and delegates from over 12 developed and emerging countries. Several speakers presented the status of housing and housing finance in their respective countries. The Conference saw representation from Central Banks of various countries, policy makers, planners, Banks, Financial Institutions, multilateral agencies and academia. The Conference spanned over a period of two days and comprised of nine sessions covering issues relating to increasing urbanization and housing challenges, regulatory and policy framework, housing finance and low income housing, securitization, mortgage insurance / guarantee and lessons from sub-prime.

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The speakers also deliberated on issues arising from urbanization, slum proliferation, and lack of adequate and reliable data with respect to housing shortage. Further, funding models of various countries and also new evolving products like covered bonds were discussed during the course of the Conference. Members of the developer community also shared their insights and outlook for the housing and housing finance sector.

The Conference served as a platform for sharing knowledge, experiences and learnings amongst the Asia Pacific countries for an in-depth understanding of issues related to the sector. The two-day event also served as an advocacy forum promoting the need for affordable and accessible housing and housing finance in the region, engaging attention of various stakeholders and Policy makers.

Some recommendations and ideas which emerged after the two-day conference included accessible and affordable construction finance, simplification of state laws, single window clearances to enable faster approvals, establishment of the Real Estate Regulator, inclusion of MFIs in the schemes formulated by the Government, effective rental housing schemes, special dispensation of FAR, developing sustainable and customized housing microfinance products for the EWS/LIG segments, interlinking the various plans like City Development Plan, Master Plan, City Sanitation Plan and City Mobility Plan. The importance of responsible borrowing as well as responsible lending was also highlighted in the backdrop of the sub-prime crisis.

It was strongly felt that the sector required an effective and constructive regulatory mechanism to ensure transparency, accountability and further safeguarding the interest of the end user. The need to protect customers’ interests and promote transparency for their information and decision making was also highlighted. The representatives from Iraq, Afghanistan, Indonesia, Thailand, Malaysia, Nigeria and Yemen gave detailed accounts of the status of housing sector and housing policies in their countries. The need for national level housing policies with emphasis on state and local governments’ sensitization to the need for reforms and efficient processes and approvals was a common theme observed across all countries’ presentations.

As a follow up, NHB seeks to step up its advocacy for these reforms and changes with the state government agencies and local authorities through suitable awareness-building and capacity-building measures. NHB is also engaging with International Financial Institutions in this regard.

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

  CITIES 2007 Index Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index Oct-Dec 2011 Index Jan-Mar 2012 Index Apr-Jun 2012 Index Jul-Sep 2012 Index   Oct-Dec 2012 Index
Hyderabad

100

83

91

84

79

86

85

84

90

Faridabad

100

165

220

206

218

217

217

216

205

Patna

100

146

146

141

140

129

140

138

151

Ahmedabad

100

165

169

163

167

164

174

180

191

Chennai

100

218

248

271

296

304

309

312

314

Jaipur

100

67

64

65

64

80

78

85

87

Lucknow

100

157

160

154

165

164

171

175

189

Pune

100

148

150

169

184

181

200

201

205

Surat

100

128

149

139

152

144

145

138

150

Kochi

100

86

107

97

82

72

73

80

87

Bhopal

100

167

224

208

211

204

207

206

216

Kolkata

100

211

194

191

190

191

196

191

209

Mumbai

100

175

181

194

193

190

197

198

217

Bengaluru

100

88

92

93

100

92

100

98

106

Delhi

100

126

147

154

167

168

172

178

195

Bhubneshwar

100

161

164

168

172

Guwahati

100

157

159

158

166

Ludhiana

100

163

171

168

179

Vijayawada

100

184

186

181

185

Indore

100

208

203

196

194

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.

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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

CITIES 2007 Index Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index Oct-Dec 2011 Index Jan-Mar 2012 Index Apr-Jun 2012 Index Jul-Sep 2012 Index
Hyderabad

100

83

91

84

79

86

85.39

84.30

Faridabad

100

165

220

206

218

217

217.26

216.40

Patna

100

146

146

141

140

129

140.08

137.55

Ahmedabad

100

165

169

163

167

164

174.39

179.67

Chennai

100

218

248

271

296

304

309.44

311.95

Jaipur

100

67

64

65

64

80

78.25

85.28

Lucknow

100

157

160

154

165

164

171.19

175.02

Pune

100

148

150

169

184

181

199.71

201.07

Surat

100

128

149

139

152

144

145.33

138.40

Kochi

100

86

107

97

82

72

72.66

79.98

Bhopal

100

167

224

208

211

204

207.19

206.13

Kolkata

100

211

194

191

190

191

195.59

190.87

Mumbai

100

175

181

194

193

190

197.04

198.00

Bengaluru

100

88

92

93

100

92

99.99

98.33

Delhi

100

126

147

154

167

168

172.00

178.48

Bhubneshwar

100

161

164.26

168.00

Guwahati

100

157

158.73

157.64

Ludhiana

100

163

171.08

168.17

Vijayawada

100

184

185.61

181.16

Indore

100

208

203.15

195.96

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.

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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). conference2 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:

Prize

Author

First Prize

Ms. Kalpana C S

Asst. Manager

Reserve Bank of India

Bangalore

Second Prize

Mr. Santosh Srivastava

Union Bank of India

Bhopal (M.P.)

Third Prize

Mr. Ganesh Shivajiraojadhav

Joint Manager

Bank of Baroda

Maharashtra

And

Ms. Simrandeep Kaur

Assistant General Manager (Projects)

Housing and Urban Development Corporation Ltd.

New Delhi

Three Consolation Prizes

Consolation Prize

Mr. Pranab Acharyya

Manager – Systems

SME Development Centre

Mumbai

Consolation Prize

Mr. J. B. Kaushik

Sr. Manager

Bank of Baroda

New Delhi

Consolation Prize

Ms. Priyanka Deepak Naik

Manager

Bank of Maharashtra Central Office

Pune

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%).

Residential Prices in Faridabad have remained stable during this quarter as compared to the previous quarter.
Overall impression: Prices stabilising at this level across the 20 cities. CITY WISE HOUSING PRICE INDEX FOR THE QUARTER APRIL-JUNE, 2012
  CITIES 2007 Index Jan-June 2009  Index July-Dec 2009  Index Jan-Mar 2010 Index Apr-Jun 2010 Index July-Sept 2010 Index Oct-Dec 2010 Index Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index   Oct-Dec 2011 Index   Jan-Mar 2012 Index   Apr-Jun 2012 Index

Hyderabad

100

65

81

81

82

87

87

83

91

84

79

86

85

Faridabad

100

139

145

154

152

170

176

165

220

206

218

217

217

Patna

100

107

119

127

124

148

146

146

146

141

140

129

140

Ahmedabad

100

127

128

113

131

141

164

165

169

163

167

164

174

Chennai

100

120

143

164

183

210

214

218

248

271

296

304

309

Jaipur

100

71

63

66

61

63

69

67

64

65

64

80

78

Lucknow

100

104

119

112

133

148

152

157

160

154

165

164

171

Pune

100

103

117

124

135

140

141

148

150

169

184

181

200

Surat

100

111

123

109

136

128

133

128

149

139

152

144

145

Kochi

100

90

83

79

83

97

101

86

107

97

82

72

73

Bhopal

100

139

162

158

153

166

173

167

224

208

211

204

207

Kolkata

100

162

185

165

176

191

213

211

194

191

190

191

196

Mumbai

100

124

126

134

160

167

173

175

181

194

193

190

197

Bengaluru

100

58

59

64

68

74

101

88

92

93

100

92

100

Delhi

100

121

113

106

110

115

123

126

147

154

167

168

172

Bhubaneshwar

100

 

161

164

Guwahati

100

 

157

159

Ludhiana

100

 

163

171

Vijayawada

100

 

184

186

Indore

100

 

208

203

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

best-employer

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

silver1

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.

silver2

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. silver3 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%).

CITY WISE HOUSING PRICE INDEX (UPDATING UPTO QUARTER JANUARY-MARCH 2012)

  CITIES

2007 Index

Jan-June 2008 Index

July- Dec 2008 Index

Jan-June 2009  Index

July-Dec 2009  Index

Jan-Mar 2010 Index

Apr-Jun 2010 Index

July-Sept 2010 Index

Oct-Dec 2010 Index

Jan-Mar 2011 Index

Apr-Jun 2011 Index

Jul-Sept 2011 Index

 

Oct-Dec 2011 Index

 

Jan-Mar 2012 Index

Hyderabad

100

96

92

65

81

81

82

87

87

83

91

84

79

86

Faridabad

100

100

121

139

145

154

152

170

176

165

220

206

218

217

Patna

100

103

100

107

119

127

124

148

146

146

146

141

140

129

Ahmedabad

100

106

100

127

128

113

131

141

164

165

169

163

167

164

Chennai

100

104

95

120

143

164

183

210

214

218

248

271

296

304

Jaipur

100

119

115

71

63

66

61

63

69

67

64

65

64

80

Lucknow

100

103

102

104

119

112

133

148

152

157

160

154

165

164

Pune

100

101

97

103

117

124

135

140

141

148

150

169

184

181

Surat

100

101

98

111

123

109

136

128

133

128

149

139

152

144

Kochi

100

106

95

90

83

79

83

97

101

86

107

97

82

72

Bhopal

100

139

151

139

162

158

153

166

173

167

224

208

211

204

Kolkata

100

114

140

162

185

165

176

191

213

211

194

191

190

191

Mumbai

100

112

117

124

126

134

160

167

173

175

181

194

193

190

Bengaluru

100

73

76

58

59

64

68

74

101

88

92

93

100

92

Delhi

100

124

130

121

113

106

110

115

123

126

147

154

167

168

Bhubaneshwar

100

 

161

Guwahati

100

 

157

Ludhiana

100

 

163

Vijayawada

100

 

184

Indore

100

 

208

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

S No. Topic Given By
1 Key Announcements and Implications of Union Budget 2012-2013 Ms. Renu Karnad, MD, HDFC
2 Key Regulatory Developments and Policy Changes, KYC and Fair Practice Codes, Frauds & Complaints – Status of Compliance Mr. V Rajan, DGM, NHB
3 Growth in Housing Finance Markets, Quality of Assets and Customer Related Issues   Mr. Anil Sachidanand, CEO, DHFL
4 Development in Credit Information Industry   Mr. Arun Thukral, MD, CIBIL
5 Presentation on Rating Methodologies and Risk Profiling of Individual Borrowers Ms. Vibha Batra, Co-Head – Financial Sector Ratings, ICRA Ltd

Mr. V Sriram, COO, IMaCS and Ms. Shalini, AGM- Banking and FS and Consulting, IMaCS

6 Presentation on NHB’s Refinance Policy – Developments and Operational Issues   Mr. Peeyush Pandey, NHB
7 1 % Interest Subvention Scheme   Mr. Jagdish, NHB
8 Uniform Valuation Standards – Way Forward     Dr. P S N Rao, SPA
9 Slab-wise Housing Loans   Mr. Lalit Kumar, DGM, NHB
10 NHB RESIDEX – Status and Way Forward   Mr. Niladri Bose, NHB
11 Credit Guarantee Fund Trust under RAY   Ms. Ruchi Vashishth, NHB
12 NHB-APUHF International Conference   Ms. Sonia Bhalla, NHB

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)

CITIES 2007 Index Jan-June 2008 Index July- Dec 2008 Index Jan-June 2009  Index July-Dec 2009  Index Jan-Mar 2010 Index Apr-Jun 2010 Index July-Sept 2010 Index Oct-Dec 2010 Index Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index   Oct-Dec 2011 Index
Hyderabad

100

96

92

65

81

81

82

87

87

83

91

84

79

Faridabad

100

100

121

139

145

154

152

170

176

165

220

206

218

Patna

100

103

100

107

119

127

124

148

146

146

146

141

140

Ahmedabad

100

106

100

127

128

113

131

141

164

165

169

163

167

Chennai

100

104

95

120

143

164

183

210

214

218

248

271

296

Jaipur

100

119

115

71

63

66

61

63

69

67

64

65

64

Lucknow

100

103

102

104

119

112

133

148

152

157

160

154

165

Pune

100

101

97

103

117

124

135

140

141

148

150

169

184

Surat

100

101

98

111

123

109

136

128

133

128

149

139

152

Kochi

100

106

95

90

83

79

83

97

101

86

107

97

82

Bhopal

100

139

151

139

162

158

153

166

173

167

224

208

211

Kolkata

100

114

140

162

185

165

176

191

213

211

194

191

190

Mumbai

100

112

117

124

126

134

160

167

173

175

181

194

193

Bengaluru

100

73

76

58

59

64

68

74

101

88

92

93

100

Delhi

100

124

130

121

113

106

110

115

123

126

147

154

167

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.

newevent

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)

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