The Invigorating Indian Real Estate Market in 2023 - Niranjan Hiranandani

 

Due to the eagerness of discriminating homebuyers to invest in or buy a home, the Indian real estate market is booming. For reasons of career mobility, first-time homebuyers who previously tended to rent are now more likely to buy. Owners now understand the importance of having a house that offers stability, privacy, and convenience for their families, especially in light of the unprecedented pandemic. The current economic climate is fueled by a number of variables that drive demand for homes, including the following:


1. A rise in disposable income


2. An optimistic capital market


3. New hires


4. Long-term tax benefit on capital gains


5. Invest in larger residences for a higher standard of living


6. The availability of empty-nested houses


7. Upbeat about upcoming profits


8. Vigorous consumption


9. A stable interest rate for house loans


10. The availability of mortgages


11. Increased number of first-time homebuyers


12. Fresh supply of homes


13. Demand in Tier, Peripheral, and Metro areas


14. Infrastructure development spurs last-mile connectivity


15. Growth in the market for aspirational homebuyers


16. Housing sector's K-factor recovery


17. Increasing urbanization and employment prospects


18. Instability among NRI driven by geopolitics


19. Greater affordability of purchasing a home

We observe strong real estate sales and registrations in light of the auspicious holiday feelings, as new projects are introduced, new sales are made, and demand is maintained. With several redevelopment, luxury, and SRA projects launched in India's major real estate markets, purchasers have a plethora of options from reputable, well-organized developers.



Know More :- The Buoyant Indian Real Estate Market


Strong economic and GDP growth is indicated by the real estate industry's success, which has a multiplier effect on employment and per capita income. With its influence on 270 related industries, Indian real estate creates the second most jobs in the country. The Indian real estate market is now more controlled and regulated as a result of the implementation of structural rules. The real estate sector will contribute $1 million toward the country's objective of a $5 trillion economy by raising its GDP contribution from 7% to 15% by 2030.


As per Niranjan Hiranandani, The sector claims that rising borrowing rates and the cost of raw materials have led to the current decline in affordable housing. The increase in affordable housing costs affects a wide range of purchasers. The government and regulators can reduce unaffordability by enacting several fiscal and monetary stimulus measures.


Comments

Post a Comment

Popular posts from this blog

Digitalization Has Increased Customer Focus in Indian Real Estate - Niranjan Hiranandani 

Image
A paradigm change from a product-centric to a customer-centric approach was brought about by digitization in order to accommodate changing consumer demands. Modern avant-garde homebuyers have a biased allegiance and affinity for companies that balance ecology, economy, and emotion in a way that is known as “conscious consumerism.” Since contemporary technology can already mimic human emotions, the economy is largely based on analyzing user behavior and emotional states. The economy is rapidly changing into a “emotion economy” thanks to the era of digitization. As the new currency for growth, the industry is increasingly leveraging the power of emotions to foster brand loyalty and create unforgettable customer experiences. Mapping emotional journeys leads to the deciphering of consumer purchasing habits, since real estate purchases are extremely sentiment-concentrated. Real estate companies now have access to crucial consumer data thanks to digitization, which supports client segmentati
Read more

Changing finance environment for Indian real estate - Niranjan Hiranandani

Image
  Developers have the opportunity to utilize competitive advantages, such as access to substantial funding, to uphold robust financial positions, manage working capital, handle cash flow effectively, and refinance debt. In recent years, the financing landscape of the Indian real estate sector has undergone significant changes due to the introduction of various alternative funding options. Market consolidation, triggered by the COVID crisis, has profoundly impacted the Indian real estate industry. This circumstance compelled companies to engage in debt de-leveraging initiatives to sustain a healthy balance sheet. Consequently, real estate players have been compelled to reconsider their business models in sustainable and innovative ways. Unforeseen events like the COVID pandemic, geopolitical tensions, and wars have led to increases in raw material and crude prices, disruptions in supply chains, elevated interest rates, and soaring inflation rates, says Niranjan Hiranandani . As a resul
Read more