Fractional ownership leads to pocket-friendly investment in office real estate: Himanshu-Satellite Developers
The governments should take steps to encourage women to ivest in real estate. There is already a trend among Indian woemn to choose real estate over gold and other stuff. The governents must caoitalize on the trend furhter, says Himanshu Jain, VP – Sales, Marketing & CRM-Satellite Developers Pvt. Ltd (SDPL) in an eclusive interview to RealtynInfra.com. Here are the excerpts:
1) How do you expect FY22 to perform, given the stamp duty cut and low rates scenario?
While the initiatives announced by the Union, state government and the central bank is certainly a step in the right direction, will help demand recovery in fiscal 2021-2022. More needs to be done to get demand and the sentiments on the right track. A single window, fast track clearance for all projects, further reform, and relief on the GST front, focus on Rental Income from real estate to attract more investment.
2) Your view on the recent 1% stamp duty concession for women homebuyers in Maharashtra and its likely impact?
Women homebuyers play a vital role in decision-making during the home buying process. It is a great move by the State Government to take such measures to encourage women to invest in real estate. Most Indian women now prefer investment in real estate over investment in gold, stocks or even fixed deposits. The 1% stamp duty concession for women homebuyers will drive a positive sentiment in the sector.
3)Maharashtra is expected to release new circle rates soon for FY22, what is your expectation?
In this situation, the expectation was that the state government would reduce the value, instead of keeping it the same. Rationalization of circle rates to better align with on-ground prices is the need of the hour.
4) Is this the right time to invest in commercial real estate?
It is the best time for buyers and investors to get impressive capital appreciation on the commercial property value. Commercial real estate has been doing well over the past few years and we believe that despite the covid-19 setback, the sector is likely to recover early and may prove to be a good investment option over the long term.
5) Do you think fractional ownership is a new reality for Indian?
With the fractional ownership becoming the new trend, commercial real estate has now become both accessible and lucrative for a majority of Indians. This is the recent trend that has gained acceptance in the real estate industry, is a new, safe and feasible way to pocket-friendly investment in office real estate.
6) How has RERA functioned, met its objective of addressing the real estate consumer grievances in the past four years?
Since the implementation of RERA Act, the law has helped several homebuyers redress their grievances across the country. However, it's widely observed that the landmark regulation has made the real estate sector more transparent, standardised and efficient. Though, a lot more needs to be done on ground to make any noticeable change for consumers.