In the late 2010, buyers were largely in the age groups of 35-45 years and 45-55 years, but the share of homebuyers in the 25-35 years age group was minimal. However, improved tax benefits motivated more working youths in this age bracket to opt for home loans. Millennials predominantly favoured paying EMIs for buying a home over the ‘dead’ expense of rentals.
The Indian housing market is a vicious cycle of broken promises, trust deficit, sulking participants and non-delivery. Statistics only tell you half the story. For the developers, market trackers and the government agencies it is all about numbers – how many units have not been delivered. What these raw statistics don’t tell you that there is a sordid saga of drying emotions of one family with each housing unit. Probably the stakeholders are least bothered about the plight of an average middle class home buyer who has exhausted his lifetime savings, taken up home loan and now reeling under the burden of both the EMI and the rent.
Bottom Line: Track2Realty conducts a pan-India survey to find what…
Track2Realty: Residential sales declined by approximately 30% y-o-y by the end of 2014 in the seven leading cities of the country, largely due to high price points, sticky interest rates and cautious buyer sentiments. The decline, which was noted across all major cities, was particularly steep in the DelhiNCR (National Capital Region).The slowdown was reported in the premium/luxury as well as the high-end/mid-end housing segments.
Track2Realty Exclusive: The home buyers’ have often been complaining about the lack of choice in the property market. It is not only the demand and supply gap that has been cribbed about, rather in the available segment also the available options have been few and far between.
Track2Realty: The home buyers expect real estate prices to rise over the next six month, says the Housing Sentiment Index (IIMB-MB-HSI) by IIM Bangalore and Magicbricks. It forecasts the trend across 9 of the 10 cities surveyed.
Track2Realty Exclusive: The Union Cabinet has cleared the Land Acquisition Bill, the realty sector is debating its pros & cons but the home buyers are apprehensive whether the house prices will shoot up in proportion of the higher cost of fresh land acquisition. The Bill cleared by the Union Cabinet makes the consent of 80 per cent of owners mandatory for private projects.
When the Reserve Bank of India (RBI) was to announce its annual monetary policy for 2012-13 on 17th April, there were widespread concerns of slowing economy, rising inflation, trade deficit of 4 per cent of GDP and drying FDI too emerging as a grace concerns
Real estate developers rallied on Tuesday, April 3, as some banks have cut home loan rates for new borrowers, sparking hope of increased property sales in the country.
When the Reserve bank of India was announcing the CRR rate cut by 50 base points, the house wife Sugnadha Dubey, glued to TV news channels, couldn’t resist the temptation to call up her husband to know whether the EMI burden on this middle class home owner is going to ease out from next month. With no background of the world of financial jargon, her husband could only assure her with a wishful thinking.