India: Property rights index

A subcomponent of the Index of Economic Freedom, the property rights index measures the degree to which a countrys laws protect private property rights, and the degree to which its government enforces those laws.

Higher scores are more desirable, i.e. property rights are better protected. Scores are from 0 to 100.

The index also assesses the likelihood that private property will be expropriated and analyzes the independence of the judiciary, the existence of corruption within the judiciary, and the ability of individuals and businesses to enforce contracts.

The Global Property Guide considers protection of property rights as a significant factor affecting the desirability of a residential real estate investment.

Source: The Heritage Foundation and the Wall Street Journal

India has just released the pilot issue of Residex (India�s house price index), covering five main cities, through the National Housing Bank (NHB). Since the Residex is new, its methodology is being revised every so often. Unfortunately, the Residex is not publicly available. General economics statistics are from the Reserve Bank of India.