Property market
CREDAI president Boman Irani has said that the demand for houses remains strong and the budget is expected to increase further due to tax encouragement and recent repo rate cuts. Credai is a top body of private real estate developers. Irani said in a conversation with PTI-language that there are no signs of demand in the Indian housing market, but it will continue to grow in the long term. However, he said that it could have an impact in some markets, but there is no concern about growth at all India levels. He said in a conversation in Nashik that short-term fluctuations in real estate cycle are not something that we need to worry about. We need to see long term growth.
Demand for homes will rise
Credai recently held a two -day conference in Nashik. Asked if the enthusiasm of the last three calendar years has now reduced, Irani said, “I don’t think so.” He cited the property registration data of Mumbai market for this month. The registration of property in Mumbai region has been stable at 12,000 units in February. Irani said that the tax incentives presented in the budget and recently reduction in repo rate by 0.25 per cent will improve the demand for homes. He said, “The most bold step I have seen in recent times is the current budget, in which the government has announced that it will not impose tax on income up to Rs 12 lakh.” He said that this will improve the purchasing power of the people.
Government is paying great attention to infrastructure
The chairman of CREDAI said that the government is paying great attention to infrastructure and this is raising new business opportunities for all real estate sectors including housing, office, mall and storehouse. On the house price cinereo this year, Irani said, “I have been saying that the price is not in the interest of the hike developer at all.” We are very happy only with the cost of inflation related to inflation. “Irani said,” Price will definitely increase more than inflation, as I think the supply has reduced. “
Real estate developers will have better profit margin
He said that real estate developers will have a better profit margin from the rapid examination of the projects. CREDAI’s elected chairman Shekhar Patel said that we are giving great emphasis on promoting green real estate and skill development. He said that CREDAI corporate is also making significant contribution on the Social Responsibility (CSR) front. Patel said that CREDAI has decided to ‘upgrade’ 1,000 government schools across the country on the occasion of the 25th Foundation Day of the Association. CREDAI will set up smart classrooms in these 1,000 government schools in partnership with an NGO and will also provide quality water and supply of modern toilets for students.
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