Tamil Nadu - Chennai   

Housing price index for Chennai

CHENNAI: Chennai now has its first Residex figures, an index that tracks the movement of prices of residential properties in the different zones. Going by the index, property prices in the city overall have dropped since July 2008.

The National Housing Bank (NHB) undertook the task of compiling the index as suggested by the Ministry of Finance. The base year is 2007 and the figures are updated every six months.

For Chennai, the Residex figure in 2007 is taken as 100. It rose to 104 between January and June 2008 and subsequently dropped to 95 between July and December 2008.

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