Decoding the Q1 2022 Knight Frank-NAREDCO Real Estate Sentiment Index report, Dr Niranjan Hiranandani – National Vice chairman & MD- Hiranandani Group indicated that, “The current sentiment index of industry stakeholders rides high on the back of real sustainable homebuying demand, low interest rate galvanising underpinned value of ownership home for end-users and renewed investor interest.”
“While the present scenario seems to be in a positive light, the future sentiment reflects cautious optimism across industry stakeholders in wake of global unrest and domestic headwinds. Soaring raw material cost resulting in escalated input cost, record high crude oil price pegged to swing in between $90-$110, anticipated hike in US Fed interest rate, geo-political turmoil withdrawal of stamp duty waiver, levy of additional 1% metro cess in backdrop of hiked ready reckoner rates are the challenges to be unfurled in the marketplace “
“Notably, the regional stakeholder’s sentiment reflects positivity, largely based on fiscal support doled out by some of the state governments to gather momentum in the sluggish real estate industry. These bolstering measures have had a cascading effect in terms of demand sustenance, offtake of unsold inventory, revival of stalled projects, fresh liquidity infusion, and simultaneously boosting up state’s revenues ”
“The future sentiment score for Non-Developers (Bankers, FIIs, PE funds) remarkably continues to strengthen, as retail lending business reaches new heights with lowest NPA at 2 per cent in the home loans segment in India; as also increased affordability on part of home buyers,” he concluded.
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