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RERA, price correction, lower home loan rates attract buyers across India's - ANAROCK

Infra News - Published on Mon, 20 May 2019

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Zee Biz reported that on account of transparency in pricing and delivery happening into the Indian real estate sector post-RERA implementation and various government schemes either in terms of lowering the GST and Repo Rate leading to lowering of home loans, the home buyers have shown positive sentiments towards home buying across India in the year 2018. As per the recent ANAROCK report, 50 per cent buyers in NCR bought property due to effective RERA implementation while 58 per cent buyers in Kolkata were driven by lower home loan rates. Homebuyers in MMR, Pune and Bangalore cite the same reason of attractive prices for getting off the fence and making their property purchases. But, Hyderabad led the race as 61 per cent of the home buyers there got attracted by the attractive prices.

Speaking on the findings Mr Santhosh Kumar, Vice Chairman at ANAROCK Property Consultants said, “Attractive pricing, sound social and physical infrastructure development and increased office leasing activity have made Hyderabad one of the most active real estate markets in the country in recent times. Supportive government policies and political stability post state bifurcation have also changed the fortunes of the city’s real estate market over the years.”

Mr Santosh Kumar of ANAROCK Property Consultants further added, “If we consider sales data in the city, the top 3 micro markets with maximum housing sales between Q2 2018 – Q1 2019 were Pocharam, Bachupally and Kondapur respectively. Interestingly, the average prices in the top 2 markets were between INR 2,550 to INR 4,000 per square feet. Affordable markets with realistic pricing are high in demand in Hyderabad.”

However, buyers in Delhi-NCR state a different reason. 50 per cent of the buyers in NCR took the plunge in the last one year because of increased confidence on the back of RERA implementation.

Speaking on the Delhi-NCR market Mr Santosh Yadav, CMD, Antriksh India Group said, “Despite the negative narrative that NCR's real estate market currently generates on account of some unscrupulous developers, more and more buyers here now repose faith in the new regulatory environment and are coming forward with the purchase decision.”

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Posted By : Rabi Wangkhem on Mon, 20 May 2019
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