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I expect key and peripheral market demand to bounce back

By Admin / Published on Monday, 30 Oct 2017 16:06 PM / No Comments / 47 views

 

Dr. Niranjan Hiranandani
National President – NAREDCO

Niranjan Hiranandani speaking as the National President of NAREDCO

“Government initiatives to provide Housing for All by 2022 will definitely incentivise fence sitters to buy home”

“The tax burden on the consumer will reduce with One Tax policy across the nation”

“I am very bullish about the future of the Indian real estate sector”

“Real estate investment will continue to hold better ROI in the coming future

“Festival of Lights has failed to spark up the prolonged tepid real estate market sentiments. Major factors affecting sales were attributed towards wary of events like DeMo, RERA, GST, Benami Property Act, and Insolvency & Bankruptcy Act in past 11 months. But, now with the uncertainties over the regulatory concerns and Acts (RERA & GST) settling down, it shall help to rebuild the confidence among the homebuyers. The market is very favourable under the current scenario with the lowest home loan interest rates, more choices of apartments to the buyer, negotiable deals from the developers, launch of affordable residential units in the market, government initiative schemes like PMAY, CLSS and Housing for All by 2022 which will definitely incentivise fence sitters to buy home. All these factors should surely stoke up revival in demand of housing. Sales have bottomed out with 5 Tsunami’s hitting the sector in past one year. Combined with slower economic growth it indicates rebound in the demand from here on wards. I expect demand in key and peripheral markets to bounce back in upcoming quarters. With Union Finance Minister to bring in full real estate under the purview of GST, it shall reduce the tax burden on the consumer with One Tax policy across the nation. I am very bullish about the future of the Indian real estate sector which attracts major FDI investments and domestic investors too joins the bandwagon. Real estate investment still hold better ROI in the coming future.”

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