The index will give a realistic picture of housing price movement to policy-makers and consumers in major cities of the country.
"A pilot study was conducted in Noida and Faridabad based on which a draft report has been submitted to the NHB. The details of the methodology will be finalised by May-end after receiving feedback from the NHB," an NCAER official said.
NHB had come out with a pilot housing price index in July last year for five cities