Gap between demand-supply will help realty market to see upward trend: Ankur-Ashiana Housing
The affordability has increased in the real estate market due to lower interest rates. The gap between the demand-supply will help market to see an upward trend, says Ankur Gupta, Jt MD- Ashiana Housing Ltd in an exclusive interview with RealtynInfra.com. Here are the excerpts:
Ques: How do you see the upcoming festive season for the real estate industry in general?
Ans: Overall the market looks positive. The festive season should see a positive impact as overall affordability has increased due to lower interest rates. There is also a gap between demand and supply, so that should also impact the industry overall. We already can see the demand from end-user and also from investors; the festive season might see an expansion in demand.
Ques: Have you seen any change in the perception/requirement of the home buyers in recent times? If yes, what?
Ans: The consumer looks inclined towards investing in real estate at the moment as there is an overall upward trend and sentiments. This pandemic has shown people the need for their own homes and be stable. They want to create either their own home or want to create asset for the long -term. This sentiment is expected to go even stronger when they start seeing the returns. Also, the consumer is now opting to go with developer who has a sound track record as they want to be safe at any cost.
Ques: Has RERA served its purpose? what changes can be brought about in RERA?
Ans: RERA is a great platform that definitely has built confidence in consumers. It has created transparency and also locking funds of developers to develop the project is a great step RERA has taken. If in the future, RERA is automated for approval and information is more easily available for consumers, it will add a feather to the cap. The onus is not only with RERA but also with consumers that they should invest with the builder who has obtained its RERA certificate. This is crucial for the right and transparent functioning of this platform. Consumers should be careful of any manipulation.
Ques: What regulatory changes are required from the government to spur the real estate market in the country?
Ans: Let the market evolve naturally and take its own corrective action. The gap between demand and supply will eventually help market to see the upward trend.