< b="" />Statement 1: India's official Housing Price Index (HPI) was launched in July 2007 in Mumbai.< />

The statement is correct. India's official Housing Price Index (HPI) was indeed launched in July 2007 in Mumbai.

< b="" />Statement 2: It was developed by the Indian home loans regulator, the National Housing Bank (NHB) the index is named NHB Residex.< />

The statement is incorrect. The Housing Price Index (HPI) in India was not developed by the National Housing Bank (NHB). It was actually developed by the Reserve Bank of India (RBI) in collaboration with the Ministry of Housing and Urban Poverty Alleviation (MoHUPA) and the National Sample Survey Office (NSSO). The index is named the RBI House Price Index (RBI-HPI), not NHB Residex.

Thus, the correct answer is option 'D' - None of them.

< b="" />Explanation:< />

The Housing Price Index (HPI) is an important tool used to measure the changes in the prices of residential properties over time. It provides valuable insights into the trends and movements in the housing market, allowing policymakers, investors, and individuals to make informed decisions.

In India, the official Housing Price Index (HPI) was launched in July 2007 in Mumbai. It was developed by the Reserve Bank of India (RBI), the central bank of the country, in collaboration with the Ministry of Housing and Urban Poverty Alleviation (MoHUPA) and the National Sample Survey Office (NSSO). The index is known as the RBI House Price Index (RBI-HPI).

The RBI-HPI is based on the data collected from various cities across the country, using a stratified random sampling technique. It covers both new and resale residential properties and provides separate indices for different cities and regions. The index is calculated using the Laspeyres formula, which compares the current prices of housing units with a fixed base year.

The RBI-HPI plays a crucial role in monitoring the housing market and assessing the impact of various factors such as changes in interest rates, economic conditions, and government policies on housing prices. It helps policymakers in formulating effective measures to ensure stability in the housing market and address any potential risks or imbalances. Additionally, it provides valuable information to homebuyers, sellers, and investors, enabling them to make well-informed decisions regarding property transactions.

In conclusion, the official Housing Price Index (HPI) in India was launched in July 2007 in Mumbai and was developed by the Reserve Bank of India (RBI), not the National Housing Bank (NHB). The index is known as the RBI House Price Index (RBI-HPI) and serves as a crucial tool for monitoring and analyzing the housing market in the country.