Property Rights Index in India compared to Asia
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.
India launched Residex (India's house price index) in July 2007, through the National Housing Bank (NHB). Since Residex is relatively new, its methodology is being revised every so often. The eventual aim is to cover residential housing for 63 cities, before extending coverage to commercial property and land. At date of writing (early 2014) Residex covered 26 cities, with 2007 as base year. Residex is publicly available and can be accessed at the National Housing Bank's site. General economics statistics are from the Reserve Bank of India.