Stay Willing to LEARN
Arecent painful development has been the banking mess that is impacting both the developers as well as the home buyers. The rising NPAS have made the banks and NBFS more cautious about disbursing loans to real estate developers which may lead to delay in completing several under-construction projects. On the other hand, the higher interest chargesof private equity players and other financial institutions will eventually be passed on to the end consumer. Additionally, the RBI’S hike in repo rate has a direct impact on home loan borrowers as banks have increased interest rates on loans in tandem.
It may seem like a crisis for real estate but the following structural changes will help reduce bad loans and promote credible players. And for new home loan borrowers, they should not wait any longer. With the property prices at the all-time low and lucrative incentives being offered by developers, this would be the right time to invest in realty.
A comparison is often made between paying a Mutual Fund SIP and Home Loan EMI. While, the debate is indicative of the mistrust for developers, what is also clear is that for a first time home buyer no SIP can provide a roof over his head. Taking cognizance of this lack of confidence in real estate, RERA, GST and various policy reforms were introduced that are already showing results in the form of gradually increasing velocity of sales and transactions across the country. The buyer’s confidence is increasing and so is flow of institutional capital into the sector. Technology has proven to be the biggest enabler in bringing transparency, structure and due diligence to the real estate. Popularly known as Proptech, it is being adopted by growing number of real estate companies to transform their businesses. Realty Plus, the voice of Indian real estate has always articulated the needs and the changing trends of the sector. The conventional business such as real estate needs to evolve and the “correct adoption” of “relevant technology” becomes an absolute essential. To deliberate and introduce these relevant technologies & their correct adoptions, Realty Plus is organizing the first ever “Realty+ Proptech Summit” in Bengaluru on Nov 22. The Summit will foster mutual learning and provoke conversations that matter. Our endeavour & commitment remains to keep adding value to the Indian real