Owning a Home - Step Towards Atmanirbharta: Dr. Niranjan Hiranandani
Date: 18-09-2020 4:37PM
Source: Hiranandani Group
Category: General, Consumer Interest, Economy, Internet, Lifestyle, Social Issues, Construction And Property, Financial Analyst & Investors, Real Estate, Construction And Real Estate
Business Wire IndiaThe unprecedented Covid crisis has ignited the dream of ‘Atmanirbhar Bharat’- a self-reliant India objective. While the Indian economy charts out the roadmap of an ‘Atmanirbhar Bharat’, consumer behavior seems to be following the trend. As the economy gears up to the anticipated GDP growth projections and seek stability, the real estate sector has witnessed a shift in consumer perception and preferences in respect to home buying. The testing time has underpinned the importance of owning a house like never before. Investing in housing has emerged as the most attractive and safe option amidst other volatile asset classes from an economic and financial perspective.
The old adage of ‘Roti, Kapda aur Makaan’ has become the focal point amidst the pandemic led national lockdown. Buying a house has always been an integral part of an investment strategy and under the new normal; buyers see a value proposition in housing. The shift in people’s mindset on grounds of safety, security and stability is an outcome of the realization that buying a home is a necessity.
As per the recent media survey reports, the reflected data favor the home buying decision as the external market condition is conducive and favorable for the discerning homebuyers. The reduced levies and taxes, choices of apartments available, government incentivization, reduced interest rates, tax benefits, suitable prices are the factors that augur well to turn the fence sitters into the actual home buyers and make a choice to buy their dream home. The factors stated below are important to make a buy decision -
1) Reduced Stamp Duty - The Maharashtra government has announced reduction in the levied stamp duty which makes it an apt time to buy a home. In the MMR the stamp duty of 2% will be levied from 1st Sept to 31st Dec 2020 and then onwards 3% up to March 2021 making it a conducive environment.
2) Low Interest Rates –The Home loan interest rates are almost reaching a decadal low at 6.85%. Further reduction is anticipated in the repo rate in backdrop of economic resurgence which makes it an ideal time to buy property.
3) Deal sweeteners & offers – Developers are offering freebies and discounts to attract the home buyers. No GST on OC received homes, low booking amounts, flexi-payment schemes, referral schemes, make it an interesting value proposition for fence sitters to seal the deal during this period time and reap the benefit.
4) Ready to move in homes- Industry witnesses pent up demand for ready to move homes as it attracts No GST, offers the flexibility to move in at any given point of time, and build ups positive consumer confidence.
5) Easy access to the home loans- Today, home loans are available up to 30 years and against 90% of the property value. This eases the home buying process for the discerning home buyers.
Real estate will be ‘positive’ for both end-users and investors in the post-COVID-19 world. With ‘new normal’, the demand for spacious homes with additional flexi space will see an uptick. The demand for own house in an integrated township is already witnessing an increased momentum on grounds of comfort, convenience and community living quotient. Demand to shift from rental to own house will also drive additional demand. Mixed- use integrated township are the best option to evaluate in a new normal scenario, as it offers finest social amenities in close proximity, well-laid civic infrastructure, best connectivity and privy to the luxury of community living, open and green ecosystem enriching one’s quality of life.
At Hiranandani we have pioneered the concept of Integrated townships and are globally acclaimed for its timeless neo-classical architecture and uncompromised quality. The flagship projects of Powai and Thane offer an array of properties ranging from mid-size to large spacious apartments with ready to move in as well as under-construction options. Hiranandani Gardens, Powai designated as Crowning Glory of Mumbai, currently offers boutique 1 and 2 BHK homes for ambitious buyers with unrivaled lifestyle quotients. Similarly, Hiranandani Estate and One Hiranandani Park in Thane offer a wide array of choices ranging from 1- 4BHK in the ready to move category. It is a ‘city with –in a city’ that offers state-of-the-art healthcare, education, retail, entertainment, high-street shopping and a fully functional business district promoting walk to work culture making it an ideal destination for home buyers looking for an experiential abode living.
With galore of ‘pick and choose’ options, one can explore the premium housing world with a unique home buying experience. Hiranandani Homes offer privy to the luxury, enhanced standard and elevated quality of living in a self – sustainable ecosystem. It offers the luxury of unparalleled civic infrastructure like sewage and water treatment plants for recycling; fiber optic connectivity, tree lined boulevards, pedestrian friendly foot paths, planned parking areas, landscapes, round abouts, water bodies, and well maintained surroundings that truly makes it value for money.
The technology disruption in the digital era has truly changed the dynamics of home buying. The multiple digital platforms and tools offer the comfort to choose the best dream home at the tip of the finger. Similarly, one can preview and book the Hiranandani homes through its digital portal www.hiranandanioffers.com- truly an ease of buying with online live inventory of apartments available with quotations and a payment gateway for online booking.
Indian economy is consumption driven and resumption of purchase of houses will go a long way rekindle the real estate. The revival of the real estate sector is imperative as it has a multiplier effect on about 300 allied industries and generates nearly more than five crore jobs across the country. We are quite positive about the growth of real estate post covid and as we move along 2020 and beyond, interest in Indian real estate shall remain augmented in comparison to the other asset classes.
Pledge to own a house is the right step towards a self-reliant future!
The Author is Co-Founder & MD – Hiranandani Group.
More Press Releases
Mitsubishi Chemical Holdings Corporation: Notice Regarding Change in Representative Corporate Executive Officers
Smiths Detection Inc. receives a $90.8M IDIQ contract to manufacture Joint Chemical Agent Detector Adapter for US Department of Defense
Five Highlights at the 26 th Yiwu Fair to Attract 50,000 Global Merchants
Pune to Get First Advanced Technology Fertility Solution Centre - Oasis Fertility
Hilton Effect Foundation Reveals 2020 Grants and Achieves $1 Million in Global COVID-19 Community Response Efforts
Exploring the Need for a Dedicated Platform for Sales Executives - Lead Experts
Moody's Analytics Establishes New Product Development Group in Shenzhen
ABB: Q3 2020 Results
IAVI, Merck, and Serum Institute of India Join Forces to Develop Monoclonal Antibodies for COVID-19 and Ensure Prompt and Equitable Global Access
ISACA Updates IT Audit Framework (ITAF)
AiDash Secures $6M in Series A Funding, Led by Benhamou Global Ventures and National Grid Partners
IDEMIA Appoints Didier Fontaine as Chief Operating Officer
AI Driven Contact Center Start-up NeoDove Raises Funding
Andersen Global Adds Chancery Chambers to Caribbean Platform
Moody’s Retires Green Bond Assessment Product in Light of Market-Leading Second-Party Opinion Service Available from its Affiliate Vigeo Eiris
Padma Bhushan Awardee Jagdish Sheth accepts to rename IFIM B School as Jagdish Sheth School of Management
Sumitomo SHI FW Awarded CFB Boiler Modernization Project in Austria
Brightcove, the Global and Industry-Defining Leader in Video, Unveils Bold New Brand
AhaGuru Raises Series A Funding Led by Anand Mahindra's Family Office
Here’s Why Company Fixed Deposit by Bajaj Finance Limited Is a Top Investment Option
Moody's Announces Leadership Succession
Ant Group Unveils Digital Copyright Services Platform Powered by AntChain
Modicare Limited Recognized Among India's 50 Best Workplaces for Women in 2020
HKTB Welcomes Announcement of In-principle Agreement to Establish Bilateral Hong Kong-Singapore Air Travel Bubble
Getronics Resets Business with Global Rebrand
UL Accredited by National Accreditation Board for Certification Bodies as a Certification Body for Household Appliances in India
CSS Corp Emerges as a Global Leader in ISG Provider Lens™ Contact Center - Customer Experience Services 2020 Report
Embassy REIT to Acquire Property Maintenance Business of Existing REIT Properties at Embassy Manyata and Embassy Techzone, From Embassy Group
P.I. Works Unveils Major Corporate Rebrand
Bacardi First in Fight Against Plastic Pollution With 100% Biodegradable Spirits Bottle
BMW Redefines Customer Experience With the Largest Integrated Dealership Facility in Vadodara
Titomic to Supply Aerospace Tooling to Hockley Pattern & Tool
Eaton Launches New Metal 3D Printing Program to Reduce Development Time, Improve Efficiency
Taulia Appoints Andy Lee as Director, Supply Chain Finance
KPMG reelects William B. Thomas as Global Chairman & CEO
Swiggy Chooses Securonix to Drive Cybersecurity Objectives
Women 20 (W20) Challenges G20 Leaders to Close the Gap Between Imagination and Reality on Women’s Equality
Toshiba Launches Dual H-bridge Motor Driver IC With PWM Control for Mobile Devices and Home Appliances
Lexington Soft Partners With DefenseCode to Bridge the Gap Between Security and DevOps
Project Management Institute Launches Initial Products in Industry’s First Platform-Agnostic Suite of Resources to Accelerate Adoption of Citizen Development at Scale
Bentley Systems Announces Winners of Year in Infrastructure 2020 Awards