Indian Real Estate is the best asset to invest: Hiranandani

By Rohit Sharma

In an exclusive interview with Dr Niranjan Hiranandani, Found & CMD, Hiranandani Communities, various aspects of Real Estate markets and development were detailed. He is also President (Nation), National Real Estate Development Council (NAREDCO), which works under the aegis of Ministry of Housing & Urban Poverty Alleviation, Government of India. In the interview, he emphasized the several schemes and policy which gave a boost to the Real Estate Industry. Dr. Niranjan Hiranandani has bagged many awards, recently Accommodation Times awarded him for ‘Commercial Project of the Year- Olympus TCS’

1) How do Hiranandani Communities foresee Indian Real Estate Market?

The future of the Indian real estate market is promising, with both, Commercial and Residential segments showing potential to play their part in scripting the Indian economy’s success story. It is positive, but the rules of the game have changed – and drastically. The paradigm has changed, the Indian Economy and indeed, real estate have experienced a ‘Systems Reboot’. The new paradigm includes various encouraging initiatives by the government, along with a new regulatory regime. This has completely changed the face of the Indian real estate sector. Initiatives by the Indian Government have created the ideal foundation for real estate to look ahead at a positive future, with the promise of potential growth. The positive effect is becoming apparent as we move ahead, and I feel it will enhance growth for the Indian real estate market.

The positive aspect of the new regulatory regime is largely about streamlining approval processes, simplifying taxation (GST), building institutional capacity, as also introducing urban planning and real estate-related reforms (RERA). Initiatives, such as ‘100 Smart Cities’, the Delhi–Mumbai Industrial Corridor (DMIC) and Pradhan Mantri Awas Yojana (PMAY) offer the perfect platform which will create investment opportunities across projects, across the country. Transparency, financial discipline and customer safety mechanism is in place with reform-led policies comprise the new paradigm. Going into the future, it looks good.

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