- Developers in a speculative mood
Last year, the demand for houses trail blazing. Developers predict that the demand would reach dizzy heights this year. Going by the positive trend in the house sales, the real estate experts and developers exude confidence that the sales will go up further this year too. In spite of real estate sector facing many challenges like increase in input costs, increasing rates of interest on housing loans, the demand for houses is stronger and sustaining further, according to Signature Global Founder and Chairman Pradeep Agarwal.
He remarked that it reflects the improved purchasing power of consumers. Moreover, it is evident that the buyers take into consideration long-term benefits vis-à-vis shot-term upheavals in the market. According to Krisumi Corporation Managing Director Mohit Jain, the housing sector has undergone lot of changes. It principally became much stronger besides becoming more mature. The demand from end users is very strong. At the same time, the investors are returning to market. He exuded confidence that the realty sector would barge ahead on a strong foundation and constant growth.
The house sales in 2022 registered double-digit growth. However, in the January-March quarter the sales improved further. During the January-march quarter, in all, 1,13,770 units were sold in the seven major cities, which is 14% more compared to the sales in the corresponding period last year. During the past three months, 1,09,570 projects have been launched, registering growth of 23%. During the corresponding period in 2022, the number of projects launched is only 89,140. In this backdrop, the demand for houses will reach a new high, according to speculations.
