IGI Logo

Below is Year Ender Quote By Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global

Real estate, especially the residential segment, has bounced back in the last couple of years and is playing a significant role in bringing momentum to the economy.

The residential sector has witnessed good sales and launches have also shown signs of an uptick during 2022. Private equity investment has also increased significantly in the year 2022.

However, the unpleasant part during the year is significant increase in the mortgage rates. Compared to the start of the year 2022, interest rates on home loans are now more than 2% up. We believe that it may have an adverse impact on housing demand in 2023.

To sustain the demand, which is also essential to support the economy, the government should announce home buyers friendly tax sops in the upcoming budget. Respective state governments should also think of waivers in stamp duty and registration fees, as announced earlier by few states, to keep the demand movement going.

Above views are of the author and not of the website kindly read disclaimer