RBI plans statistics on housing development

Mumbai: The Reserve Bank of India is planning putting in place a 'housing statistics index survey' to record the progress in the housing sector.

"Housing statistics are something developed countries are watching very closely. It means how many houses are being built on a regular basis and we are thinking of having it in India," RBI deputy governor Rakesh Mohan told a seminar on the occasion of National Statistics Day.

He, however, denied that the survey was being led by any concerns regarding the booming housing sector.

"It is the index of construction activities... It is a good indicator of economic activity over a period of time. At present, no such data is available in India." He said.

He said the RBI was also looking at technically improving the inflation expectation survey for better results. "We are testing it," he said, adding that an expert committee was looking into the issue.