Affordable Housing to See a Boost from Repo Rate Cut and Tax Exemptions: Hiranandani
Mumbai (Maharashtra) [India], February 7 (ANI): Real estate business leader Niranjan Hiranandani has expressed optimism that the affordable housing segment will benefit significantly from the recent repo rate cut and tax exemption relief.
Affordable HousingRepo Rate CutTax ExemptionsReal EstateNiranjan HiranandaniReal Estate MaharashtraFeb 07, 2025
Niranjan Hiranandani, a prominent figure in the real estate industry and a co-founder of the Hiranandani Group, has shared his insights on how these measures can positively impact the market.
The Reserve Bank of India (RBI) recently announced a repo rate cut, a move that is expected to make borrowing cheaper for homebuyers.
This reduction in the repo rate, which is the rate at which the RBI lends to commercial banks, will translate into lower interest rates on home loans.
As a result, potential buyers will find it more affordable to finance their dream homes, particularly in the mid-income and lower-income segments.
In addition to the repo rate cut, the government has also introduced several tax exemption benefits for affordable housing projects.
These incentives are designed to encourage developers to invest more in this segment, thereby increasing the supply of affordable homes.
The tax breaks will not only reduce the financial burden on developers but also make the final product more affordable for end-users.
Niranjan Hiranandani, a well-known name in the real estate sector, believes that these measures will have a multiplier effect on the economy.
'The repo rate cut and tax exemptions will not only stimulate the housing market but also create jobs and boost the overall real estate ecosystem,' he said.
The Hiranandani Group, founded in 1983, is a leading real estate developer in India, known for its quality projects and commitment to sustainable development.
With a presence in major cities across the country, the group has been at the forefront of promoting affordable housing.
The recent economic measures align perfectly with the company's mission to provide affordable and quality homes to the middle and lower-income segments.
According to Hiranandani, the combination of lower interest rates and tax incentives will make it easier for developers to offer more affordable homes.
'This is a win-win situation for both developers and homebuyers.
Developers will have more resources to invest in new projects, and homebuyers will find it easier to own a home,' he added.
The affordable housing sector has been a key priority for the Indian government, with several initiatives aimed at ensuring 'Housing for All by 2022.' The recent measures are expected to accelerate the progress towards this goal.
With increased investment and lower costs, the dream of owning a home is becoming a reality for many more families in India.
In conclusion, the repo rate cut and tax exemption relief are poised to provide a significant boost to the affordable housing sector.
These measures are expected to not only make home ownership more accessible but also contribute to the overall growth of the real estate market and the economy as a whole.
Frequently Asked Questions
What is the repo rate cut and how does it benefit homebuyers?
The repo rate cut is a reduction in the rate at which the Reserve Bank of India lends to commercial banks. This leads to lower interest rates on home loans, making it cheaper for homebuyers to finance their homes, particularly in the affordable housing segment.
What are the tax exemptions introduced for affordable housing projects?
The government has introduced tax exemptions for affordable housing projects to encourage developers to invest more in this segment. These incentives reduce the financial burden on developers and make the final product more affordable for end-users.
Who is Niranjan Hiranandani and what is his role in the real estate industry?
Niranjan Hiranandani is a prominent real estate business leader and co-founder of the Hiranandani Group. He is known for his insights and contributions to the affordable housing sector in India.
What is the 'Housing for All by 2022' initiative?
The 'Housing for All by 2022' initiative is a government program aimed at ensuring that every family in India has a pucca (permanent) house by 2022. The recent economic measures are expected to accelerate the progress towards this goal.
How do the recent economic measures contribute to the overall economy?
The repo rate cut and tax exemptions are expected to stimulate the housing market, create jobs, and boost the overall real estate ecosystem, contributing to the growth of the economy as a whole.
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