The National Buildings Organisation (NBO) under Union ministry of housing and urban poverty alleviation, engaged in the development of Housing Start Up Index (HSUI) in collaboration with the Reserve Bank of India (RBI) has selected Cuttack among 60 cities in India for developing the second phase of the index.
HSUI tracks construction of new houses started in a particular period. It is a measure of the level of construction activity in a given period for a region and is considered as one of the leading indicators of economic activity.
“Cuttack has been selected by the ministry for developing the second phase of the index among 60 cities in the country. Information on building permits issued for newly constructed residential units from the municipal corporation or development authority has been sought on quarterly basis,” an official in the know said.
The development of index requiring verification of house start ups through the field survey and rectification of data has been outsourced to PE Analytics Private Ltd, a leading data base management company.
