A city housing index cannot price your flat: five checks before comparing

A housing index measures changes in a defined set of observations. It provides context, not a valuation of an individual home. Before comparing an index movement with an asking price, make these five checks.

1. Identify the price series

NHB RESIDEX distinguishes registered, assessment and market-price measures. They describe different observations and should not be treated as interchangeable.

2. Read the reporting quarter

Check the period covered by the data, not merely the webpage’s update date. A quarterly observation is not a live property-price quote.

3. Compare compatible base years

NHB’s current RESIDEX description identifies FY 2024–25 as the new base from the quarter ended March 2026. It says the earlier FY 2017–18 series was linked back to preserve continuity. Check the series notes before comparing index levels.

4. Check the geography

News2Wealth analysis: a city-wide measure alone cannot resolve differences between neighbourhoods, projects or individual buildings. Use it to frame questions about local evidence.

5. Check which properties are covered

NHB says its under-construction market-price series covers primary-market inventory and excludes resale stock. That distinction matters when evaluating a resale flat.

Why it matters for buyers

News2Wealth analysis: check the property’s condition, legal documentation, comparable transactions and transaction costs separately. An index movement does not establish that a particular home is cheap or expensive, and is not a forecast of the next quarter.

Source and scope

Source: National Housing Bank, NHB RESIDEX About page, checked 27 October 2026. https://residex.nhbonline.org.in/Dashboard/About This is educational interpretation. No current city price, individual valuation or forecast is asserted. Prepared with AI assistance; factual series descriptions checked against the linked NHB source.