How useful is Housing Price Index?

1. It can lend to the Indian property market transparency in the first place.
2. It provides to the end user the essential fundamental knowledge for assessing risks pertaining to various real estate investment classes and an important basis for benchmarking and price discovery.
3. To the principals, it would provide a significant means to establish credit parameters.
4. It would have a substantial impact in estimating price-peaks or asset bubble situations.
5. It would be a great tool to assess the health of the housing financing companies.
6. It would enable the government to formulate meaningful policies for the sector and determining property taxes in a more scientific manner.