NAREDCO President Dr. Niranjan Hiranandani On Highs-n-Lows Of Real Estate: NBFC Crisis Hits Hard But 2019 Seems Hopeful

Date:

Share post:

As the year 2018 comes to an end, it is imperative to pause and have a look at the year gone by and how Indian real estate fared.

While both home buyers and developers seemingly came to terms with a change in norms like RERA and GST, institutional investors too have shown a renewed interest, especially in commercial real estate segment.

Industry leader Dr. Niranjan Hiranandani, National President- NAREDCO and CMD-Hiranandani Communities, feels that as the disruptive impact of policy reforms faded away earlier this year, 2018 had witnessed the sign of revival.

“The industry has evolved extremely with an optimistic impact in terms of accountability, transparency and compliance mechanism balancing the scales and making consumer interest as most paramount.”

 

Noida real estate

“The residential segment faces challenges in coping up the rippling effect of liquidity crisis hit by NBFC blow, lock-up of 70% funds in escrow and postponement in logging sales to save tax burden on the under-construction property,” Dr. Hiranandani told Realty Buzz exclusively. “This situation has created an urgency to source out alternative fund avenues for the on-going projects and relieve liquidity crunched sector on priority.

As we stand on the cusp of 2019, we look for some sort of magic to conjure up funds and ensure the sector remains a work in progress. We are extremely bullish about the imperative growth of housing to gear up India’s GDP growth at the projected rate of 7.8% and truly emerge as the fastest growing economy of the world.

Ambitious objectives like Housing For All by 2022 and planning a slew of mega infrastructure projects across the country will co-script the sustainable growth story of the Indian economy along with perennial job creation.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related Posts

Latest posts

Property Prices Rise in 48 Cities in Q4 of FY25

Residential property prices increased in 48 out of 50 Indian cities during the fourth quarter of fiscal year...

Greater Noida’s Authority Unveils Plan for Multi-Modal Logistics Park

The Greater Noida Industrial Development Authority on Friday announced the launch of a major infrastructure initiative with the...

Delhi-Meerut RRTS Corridor Set to Open by June 2025

India’s first Regional Rapid Transit System (RRTS) corridor — the 82-kilometre Delhi-Meerut line, known as the Namo Bharat...

Navi Mumbai Offers 10% Property Tax Discount for Early Payers

The Navi Mumbai Municipal Corporation (NMMC) has announced a 10% “Early Bird” rebate on general property tax for...