Indian Institute of Management Bangalore (IIMB) and proptech platform Square Yards have announced a multi-year collaboration to develop and publish a property price index for India. According to reports from Business Standard, the partnership aims to build an index that tracks how residential property prices move across the country over time, addressing the long-standing challenge of fragmented and inconsistent pricing information in the Indian real estate market. The initiative will provide homebuyers, investors, lenders, policymakers and researchers with a transparent measure of housing price movements, addressing the lack of consistent pricing benchmarks in India's real estate sector.
As reported by Business Standard, Square Yards will contribute anonymised and aggregated data drawn from across its data intelligence ecosystem, including more than 150 million property registration data points and government guidance values (circle rates), Real Estate Regulatory Authority (Rera) data, primary transaction records from its platform, and residential listings. The data will be shared on a periodic basis for building and maintaining the index and supporting related academic research. The partnership aims to streamline decision-making and improve operational efficiency by combining AI-powered search, assistants and autonomous agents to provide enterprises with a governed pathway from enterprise search to AI-driven automation.
According to Business Standard, Prof. Venkatesh Panchapagesan, chairperson of RERI and faculty of finance & accounting at IIM Bangalore, emphasized that Indian housing markets have historically lacked transparent, high-frequency price benchmarks. As reported, IIMB will lead the design of the index methodology and retain full academic freedom and publication rights over research conducted using the data. The institute will retain academic independence and publication rights while combining Square Yards' data with IIMB's peer-reviewed statistical approach and rigorous research methodology.
As reported by Business Standard, the collaboration aims to provide a credible, transparent reference point for homebuyers, investors, lenders, policymakers and researchers. Tanuj Shori, founder and CEO of Square Yards, highlighted that the partnership leverages their decade-long data ecosystem development. According to the joint statement, the index is designed as a shared reference for the market rather than a proprietary product, with both organizations able to use the jointly developed index in their respective research and business activities. The initiative will help organisations maximise returns from AI investments while providing a comprehensive solution for enterprise knowledge management.
