Mumbai, Maharashtra , India
The real estate sector has witnessed a mixed bag of trends in FY 2015. Though tough lending norms from banks and financial institutions resulting in project delays and cost escalations have proven a dampener. Easing of FDI norms, housing for all, steps towards setting up of a regulatory body, focus on smart cities development, softening of interest rates, considerable progress towards implementing REIT have certainly helped in building positive sentiments in the real estate industry”, said Surendra Hiranandani, Founder & MD of House of Hiranandani.
“Given the recent policy changes, FY 2016 would primarily be a buyer-driven market, with buyer strongly influencing the industry dynamics. Builders with strong track record in terms of not only delivery but also maintaining excellence in quality and design will have an edge with the discerning buyer.
To build on the positive developments in real estate industry, what would be critical is industry friendly policies such as single window clearance, easy project finance options for developers and passing of RBI rate cut benefits by banks to home buyers” he further added.