The National Housing Bank (NHB) is going to revamp its housing index - Residex.
Residex will now have 3 subcategories – residential property prices, land value, and building materials.
Central banks, such as NHB, track property prices in order to fine-tune their supervision and regulation.
Residex covers 26 cities. NHB plans to extend this to 40 cities within the next year.
NHB also plans to grade and rationalise stamp duty. This is expected to lower stamp duty rates.
Home Loan tax deductions include stamp duty.
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