With reference to RESIDEX, consider the following statements:

1. It tracks the changes in the prices of the residential properties in India.

2. It is published by the National Statistical Office (NSO).

Which of the statements given above is/are correct?

The Housing Price Indices (HPIs) are a broad measure of the movement of residential property prices observed within a geographical boundary. The first official housing price index for the country named ‘NHB RESIDEX’ was launched in July 2007 by the National Housing Bank. Over time, the base year has been revised to Financial Year 2017-18, to capture the latest information and to accurately reflect the current economic situation in the country. Currently, the National Housing Bank publishes NHB RESIDEX for 50 cities on a quarterly basis, with Financial Year 2017-18 as the base year.