Boost for Affordable Housing: Hiranandani Highlights Repo Rate Cut and Tax Exemptions
Mumbai (Maharashtra) [India], February 7: Real estate business leader Niranjan Hiranandani has stated that the affordable housing segment will receive a significant boost from the recent repo rate cut and tax exemption relief.
Affordable HousingRepo Rate CutTax ExemptionReal EstateNiranjan HiranandaniReal Estate MumbaiFeb 07, 2025
According to Hiranandani, recent policy changes, including the repo rate cut and tax exemption relief, will significantly benefit this crucial sector.
The Repo Rate Cut A Game Changer
The Reserve Bank of India (RBI) recently announced a reduction in the repo rate, which is the rate at which the central bank lends to commercial banks.
This move is expected to lower the cost of borrowing for both developers and homebuyers.
As a result, developers can finance their projects more affordably, and potential homebuyers can secure loans with lower interest rates.
Hiranandani believes that this will make affordable housing more accessible to a wider segment of the population.
Tax Exemption Relief An Added Incentive
In addition to the repo rate cut, the government has introduced tax exemption relief for buyers of affordable housing.
Under the new policy, individuals purchasing homes priced up to a certain limit will be eligible for significant tax benefits.
This will not only reduce the financial burden on homebuyers but also encourage more people to invest in affordable housing.
Hiranandani emphasizes that these tax incentives will play a crucial role in stimulating demand in the affordable housing market.
Impact on the Real Estate Market
The real estate market in India has been facing several challenges, including a slowdown in demand and high unsold inventory.
However, the recent policy changes are expected to provide a much-needed boost to the sector.
Hiranandani expects that the combination of lower interest rates and tax benefits will attract more investors and buyers, leading to increased construction activity and job creation.
About Hiranandani Group
The Hiranandani Group is one of India’s leading real estate developers, known for its commitment to creating high-quality, sustainable, and affordable housing solutions.
Founded by Niranjan Hiranandani, the group has a strong presence in major cities across India and has delivered several landmark projects in the residential, commercial, and infrastructure sectors.
Looking Ahead
While the recent policy changes are a positive step, Hiranandani acknowledges that more needs to be done to ensure the long-term sustainability of the affordable housing market.
He advocates for further reforms in areas such as land availability, regulatory frameworks, and financing options.
Hiranandani is confident that with continued government support and industry collaboration, the affordable housing sector will thrive, benefiting millions of Indians in need of quality, affordable homes.
In conclusion, the repo rate cut and tax exemption relief are expected to provide a significant boost to the affordable housing segment in India.
With the Hiranandani Group and other industry leaders spearheading the efforts, the future of affordable housing looks promising.
Frequently Asked Questions
What is the repo rate cut and how does it benefit the real estate sector?
The repo rate cut is a reduction in the rate at which the Reserve Bank of India lends to commercial banks. This lowers the cost of borrowing for both developers and homebuyers, making it more affordable to finance real estate projects and secure home loans.
What tax benefits are available for buyers of affordable housing?
Buyers of affordable housing, typically homes priced up to a certain limit, are eligible for significant tax benefits. These benefits reduce the financial burden on homebuyers and encourage more people to invest in affordable housing.
How will these policy changes impact the real estate market in India?
The repo rate cut and tax exemption relief are expected to stimulate demand in the real estate market, attract more investors and buyers, and lead to increased construction activity and job creation.
Who is Niranjan Hiranandani and what is his role in the real estate industry?
Niranjan Hiranandani is a prominent real estate business leader and the founder of the Hiranandani Group, one of India’s leading real estate developers. He is known for his commitment to creating high-quality, sustainable, and affordable housing solutions.
What additional reforms are needed to ensure the long-term sustainability of the affordable housing market?
According to Niranjan Hiranandani, additional reforms are needed in areas such as land availability, regulatory frameworks, and financing options to ensure the long-term sustainability of the affordable housing market and benefit millions of Indians in need of quality, affordable homes.
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