The Invigorating Indian Real Estate Market in 2023 — Niranjan Hiranandani

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The Invigorating Indian Real Estate Market in
2023 Niranjan Hiranandani
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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
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A rise in disposable income
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An optimistic capital market
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New hires
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Long-term tax benefit on capital gains
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Invest in larger residences for a higher standard
of living
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The availability of empty-nested houses
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Upbeat about upcoming profits
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Vigorous consumption
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A stable interest rate for house loans
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The availability of mortgages
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Increased number of first-time homebuyers
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Fresh supply of homes
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Demand in Tier, Peripheral, and Metro areas
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Infrastructure development spurs last-mile
connectivity
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Growth in the market for aspirational homebuyers
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Housing sectors K-factor recovery
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Increasing urbanization and employment prospects
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Instability among NRI driven by geopolitics
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Greater affordability of purchasing a home
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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 Indias major real estate markets,
purchasers have a plethora of options from
reputable, well-organized developers.
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GDP Growth
Strong economic and GDP growth is indicated by
the real estate industrys 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 countrys objective of a 5 trillion
economy by raising its GDP contribution from 7
to 15 by 2030.
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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.
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Thank You