In an exclusive interview, Mani Rangarajan of Housing.com shares his views on the current trends prevailing in the realty market in India, and its future outlook.
While developers are unlikely to make significant price corrections, steps such as stamp duty reductions and circle rate adjustments could potentially drive some downward adjustment in prices.
Affordable housing has been a growth driver for the real estate market across Tier 1, 2 and 3 cities. In fact, over the last couple of years, affordable housing has accounted for more than 50% of launches and sales in Tier 1 cities. There is no doubt that this is a segment with massive growth opportunity over the next decade, says Mani Rangarajan, Group COO, Housing.com, Makaan.com and Proptiger.com.
Rangarajan also says that luxury housing has seen a comeback of sorts in the last 10-12 months owing to different reasons. The luxury housing market today is doing well and there is unlikely to be any significant price correction in this segment.