Housing Price Diffusion Process in India: An Empirical Investigation of National Capital Region
13 Pages Posted: 13 May 2019
Date Written: March 14, 2019
India (7th position globally in terms of total area) owing to its wide geography, varied nature of land ownership and legal complexity of the ownership right transfer, the housing price data were not available with a single central repository. In 2007 (after 60 years of independence), India attempted to make housing price index to track the performance of housing market. Presently, it covers 50 cities (out of total 4000 cities in India). The paper examines the housing price diffusion process in National Capital Region of India. Being first paper to study this phenomenon in Indian housing market, it offers various insights to developers, investors and other stakeholders.
Keywords: RESIDEX, National Capital Region, VAR, Price Diffusion, Stationarity
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