The index will indicate the health of the economy by tracking the number of houses being constructed. Housing and construction-related activities, with backward and forward linkages and nearly 254 ancillary industries, have huge multiplier effects on the economy.
The logo for HSUI, which the ministry is jointly developing with the Reserve Bank of India (RBI) was unveiled on Wednesday by Vyas.
Vyas also unveiled a tool to monitor the progress of projects under the Rajiv Awas Yojana (RAY) called Integrated Urban Poverty Monitoring System.
The minister said that in several cities, the ministry has begun offering houses on rental under RAY.
Vyas also highlighted the Socio Economic Caste Census, which she said had been developed by her ministry as a first time initiative in the country.