DELHI: Property consultant Knight Frank India today said it has entered into an agreement with industry chamber FICCI to launch an index that would measure sentiments in the real estate market.
Knight Frank India signed a memorandum of understanding (MoU) with the FICCI to launch a first of its kind real estate sentiment tracker in India, the consultant said in a statement.
Knight Frank would release quarterly report, which would be designed to capture the developer's perspective on the real estate market conditions.
"This is a one of its kind initiative from our side to bridge the gap between developers and the end consumer and bring them on to a common platform wherein the latter is in complete knowledge of what to expect of the current market," Knight Frank India Country Head and Managing Director Shishir Baijal said.
FICCI Secretary General A Didar Singh said that an index to measure the sentiments of Indian real estate fraternity would add a new dimension to the real estate research space.
The index would capture the perceptions and expectations of the industry leaders in order to measure the current and future market sentiments.
"This index will gauge the short term future trend of launches, sales volume, price and credit availability for the Indian residential and office space market."It will also serve as a window through which consumers can assess the pulse of the developers' fraternity," Knight Frank India Chief Economist Director-Research & Advisory Services Samantak Das said.