Real Estates Sensitive Index 'RESSEX' Launched

News Posted - 2009-11-21

RESSEX, the Real Estate Sensitive Index was formally inaugurated by Renu Sud Karnad, Jt MD, HDFC Ltd on November 18, 2009 in Mumbai. Niranjan Hiranandani, Chairman, Hiranandani Constructions, was the Guest of Honour.
RESSEX will enable easier understanding of the finer aspects of the dynamics of real estate trends, said Pankaj Kapoor, MD, real estate research and analysis firm Liases Foras. Going beyond mere prices, RESSEX’s indices also include sales, inventory, business turnover and an efficiency index. RESSEX will not be just about the reasoning behind past market behaviour, but more importantly, will be a guiding tool to the future.
“RESSEX will not merely provide data, it will enable the user to have a smart and technical analysis and also a proper understanding of real estate trends, viewed across various options. The user will be able to define across what parameters he or she wishes to view the data, and the system will enable viewing the data based on exactly those indices. It empowers the user to view real estate data and trends based on the exact parameters that are relevant to the user,” he says.
RESSEX covers almost every single primary real estate supply across six major Indian cities viz. Mumbai Metropolitan Region, Pune , NCR, Bengaluru, Chennai and Hyderabad. These six geographical conglomerations account for more than 70 per cent of organised real estate supply. This Property Index is a ‘first’ in terms of concept and execution and will provide scientific, fact-based dynamic overview of real estate.
The entire set-up of RESSEX will be available online on www.ressex.com. Partially free to use, the web-based RESSEX will have a ‘pay for use’ facility which will have easy options.

Source: - DNA