Worst Is Over For Real Estate Sector
Dr. Niranjan Hiranandani, National President, NAREDCO What are the reasons for positive sentiments? There is a positive sentiment visible across the economy, and as GDP growth happens through the V-shaped recovery, the aspect of recovery in commercial real estate, especially office spaces, remains a concern in light of ‘work from home’ as also ‘work from remote location’. Similarly, while the SWAMIH Fund has done well, there are many stalled and delayed projects, recovery of which will need ramping up of the quantum of the fund as also allowing financial institutions to participate in the process.” What more can be done? As the economic situation improves and the authorities seem to have done well post the Covid-19 pandemic, most efforts seem directed towards the home buyer. Home loan interest rates are at historic lows; some states have reduced stamp duty rates. What is also needed is support for project finance, and I hope positive steps happen – and soon. As the vaccination drive shifts into high gear with the public-private partnership, one expects normalcy to return by June-July this year.” With improving customer sentiment post various policy announcements by the governments and micro markets that have seen traction, the NAREDCO member developers promise to continue their efforts and keep the momentum like the last year.
Tags : Interviews Real Estate Dr. Niranjan Hiranandani NAREDCO growth GDP SWAMIH Fund