New sensitivity index tool makes real estate a science

Mumbai, Aug 27 (UNI) Investment in real estate is more lucrative than investments made in savings, insurance, jewellery and others.

In metropolitan cities like Mumbai and Delhi, real estate investments have grown by leaps and bounds. Forget bigwigs, even small investors want to invest their hard-earned money in real estate here.

However, since it is an unorganized sector people normally get confused over how to invest. To sort out this problem and bring about a scientific approach to the field, a Mumbai-based real estate rating and research agency, Liases Foras, has developed a sensitivity index 'Ressex' to monitor the movements taking place in the field and guide the investors in a proper way. Through sensitivity index, which was recently launched in Mumbai, is primarily meant for residential complexes. It would also soon be introduced for commercial locations too. Thanks to the introduction of the index, one can analyse scientifically if the investment being made by one in a particular real estate was fruitful venture.

CEO of Liases Foras, Pankaj Kapoor said, we have put six long years in our research before launching it. Ressex factors price availability and supply of real estate juxtaposed with demand, to figure out the efficiency quotient pricing.

Though the membership for the website www.propertyscience.com, which is launched by the company is quite high, fees begin from Rs 15,000 a year, quite a few services related to the sector have been made free to subscribers aspiring to invest in the real estate sector.

Suppose you want to know about the new constructions going on in a particular location then the website can be of great help to you, said EMD of Orbit Group which has sponsored Ressex, Pujit Agrawal. In case you have already selected a plot for purchase then the icon in the website 'property worth calculator' can help you decide whether the price being charged by the owner of the land for the plot was justified, added he.

MD of Hiranandani Constructions, Niranjan Hiranandani said ''I was happy and pleasantly surprised to see the intensive work put into the study in respect of growth pattern and future outlook of MMR. In the coming decade the need for such reports will grow since the funding requirements can become large and risk profile will increase, he noted.

Some of the customized services being offered by the company include evaluation of property plot potential analysis, GIS mapping (satellite imaging) and others.

A company official, Sunder Dinesh, told UNI ''Any policy changes in the real estate sector and other required informations would also be made freely available on the website''. UNI KKD WD VKG0955