Tag: Raheja Developers

Business

The RBI has once again opted to keep the repo rate unchanged

Feb 8, 2024 by Sujata Muguda 0 Comments #Ajendra Singh, #Ambience Group, #Amit Modi, #Ankush Kaul, #Ansal Housing, #Ashwinder R. Singh, #Axiom Landbase, #Bhartiya Urban, #CMD Gaurs Group, #County Group, #CREDAI NCR, #kushagr ansal, #Manoj Gaur, #Mohit Goel, #MRG Group, #Nayan Raheja, #Omaxe Group, #Pawan Sharma, #Pradeep Aggarwal, #Raheja Developers, #Rajesh K Saraf, #Rajjath Goel, #Sanchit Bhutani, #Sanjay Sharma, #Saya Group, #Signature Global (India) Ltd, #SKA Group, #Spectrum Metro, #Trisol Red, #Vikas Bhasin

The outcomes of the Reserve Bank of India’s (RBI) meeting have been announced by Governor Shaktikanta Das, confirming that there have been no changes to the repo rate, which remains steady at 6.5 percent. As a result, there will be no increase in loan EMIs. The real estate sector has welcomed this decision favorably.

Manoj Gaur, President CREDAI NCR and CMD Gaurs Group

Excellent decision by RBI. For the last one year, RBI has kept the repo rate unchanged at 6.5%. The real estate sector continues to exhibit a steady demand, the commercial segment is doing exceptionally well, and the country’s economy is growing from strength to strength. The residential segment will maintain the trajectory it took last year. I am sure that the sector will continue to show buoyancy as in the past quarters across the country.

Amit Modi, Director County Group

Once again, RBI has not made any changes in the repo rate, which is undeniably beneficial for the real estate sector. This will particularly uplift the morale of home buyers and investors. It clearly indicates that the country’s economy is consistently performing well.

Mohit Goel, Managing Director Omaxe Group

The RBI’s decision to maintain the repo rate at 6.5% aligns with its consistent approach and is welcomed. With a robust economy, high GDP growth, buoyant Sensex, stable crude oil prices, and easing inflation, the real estate sector is poised to sustain its strong performance in 2024. RBI’s decision aligns well with the country’s economic performance and signals stability, crucial for the ongoing realty sector’s robust growth.

Ashwinder R. Singh, Co-Chairman, CII, NR Committee for Real Estate, CEO Residential at Bhartiya Urban

With policy rates unchanged @6.50% and the RBI MPC’s commitment towards stable lending rates bodes well for India’s real estate sector, particularly in terms of home sales and home loans. With steady rates, prospective homebuyers can approach the market with confidence, driving increased demand for residential properties and facilitating easier access to home financing. This positive environment fosters growth and opportunity within the housing market, benefitting both buyers and developers alike.”

Nayan Raheja, Raheja Developers

The realty sector welcomes the RBI’s decision to hold the repo rate. This move will foster stability and bolster confidence among stakeholders, including home buyers and investors. However, the repo rate at 6.5% remains at a 4-year high, and a rollback would have boosted the affordable housing segment.

Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd

As expected, the RBI kept rates on hold. The prolonged pause, for the sixth time, since February 2023, is aimed at keeping inflation in check without hurting the economic growth momentum. With the reduction in policy rates would have been the best scenario for interest-sensitive sectors like the real estate sector, policy continuity is the next best outcome for both borrowers and developers alike. The decision allows homebuyers to make informed choices, which is expected to result in enhanced demand across all housing segments in line with the country’s overall economic progress.

Kushagr Ansal, Director Ansal Housing

The RBI’s decision to uphold the current repo rate is greeted with approval. While the real estate sector hoped for a slight reduction, this decision underscores stability. It is poised to enhance confidence among developers and homebuyers, providing clearer long-term financial commitments and EMIs.

Rajjath Goel, Managing Director of MRG Group, comments on

The RBI’s decision to sustain the repo rate at 6.5% for one more consecutive time, anticipating a positive surge in the housing market. Despite the rising housing costs, the unchanged home loan rates offer a semblance of relief to homebuyers. Consequently, both buyers and developers stand to benefit from stable interest rates, fostering increased consumer confidence and investment in the sector. The RBI’s decision is expected to bolster new launches and the expansion of projects in emerging hotspots.

Ankush Kaul, chief business officer – Ambience Group

“A commendable decision by RBI. It has been one year since the RBI decided to hit the pause button and keep the repo rate at 6.5%. It is expected to stimulate growth and boost the realty sector, providing a fillip to the premium housing and commercial segments. This decision presents the picture of the country’s resilient economy.

Sanchit Bhutani, MD of Group 108

This move is seen as a positive development, anticipated to stimulate growth in the real estate sector. The decision is expected to provide relief to the middle-income group, as they won’t have to bear the burden of higher interest rates on home loans. Additionally, there is a prediction that both commercial and residential property sales will experience an upswing. The Reserve Bank of India’s choice to maintain the repo rate reflects growing confidence in the sector.”

Rajesh K Saraf, Axiom Landbase, Managing Director, Axiom Landbase

The RBI’s decision to maintain the repo rate at 6.5% brings positive implications for the Indian housing and home loan sector. With interest rates remaining steady, prospective homebuyers can benefit from a favorable lending environment. This consistent stance instills confidence in the market’s reliability.

Pawan Sharma, Managing Director Trisol Red, comments that

The decision not to increase the repo rate is once again good news for the real estate sector. The fact that the repo rate has not increased in the past year has proven beneficial for the real estate sector in every aspect. This is undoubtedly excellent relief news for both home buyers and investors. Indeed, this will further benefit the market.

Sanjay Sharma, the Director of SKA Group

He emphasized that any hike in interest rates could adversely affect the real estate sector. The decision not to increase interest rates is expected to boost investor confidence and contribute to a rise in demand for residential properties.

Vikas Bhasin, Chairman & Managing Director, Saya Group

The RBI’s decision to keep the repo rate steady provides optimism to the real estate sector. This move underscores both macro and microeconomic stability, fueling year-end housing sales and bolstering the sector’s growth trajectory for 2024. It showcases the resilience of the country’s economy, poised to spur growth, particularly in premium housing and commercial segments.

Ajendra Singh, Vice-President (Sales & Marketing) Spectrum Metro

Not making changes in the repo rate signifies that the Indian Economy is strong. Compared to the Global Economy, India’s economic situation is better. The steps taken by the RBI are beneficial for the commercial and residential real estate sector in every aspect. We hope that this entire year will prove to be suitable for investors.

Business World

Realtors eagerly waiting for sector specific announcements on Budget

Jan 28, 2021 by Neel Achary 0 Comments #Achal Raina, #COO, #Raheja Developers

The government has made a number of announcements and initiatives during 2020 to streamline the industry and provide liquidity options for stalled projects; the sector now has high hopes for the upcoming budget. The government is supposed to take the thinking and intervention of last year to come up with announcements that can be introduced in the short term.

“The first and foremost need is to see that the process of permissions get resolved through single window clearance, a demand that has been there for quite some time. Authorities responsible for giving permissions can also be brought under the ambit of RERA to make sure that the permissions do not take much time; this step can be an option if single-window clearance is not announced.  We all know that government is promoting Housing for All and for it to become a reality it is important to ease out the cost burden on real estate by controlling the cost of construction; the Budget must have an announcement regarding cost effective materials for the housing being developed under affordable housing,” says Achal Raina, COO, Raheja Developers.

The real estate sector needs government help, and every Indian wants to have a home. The biggest challenges are cost and delay escalation; government must step in through income tax incentives, developers, appropriately priced land, land supply for affordable housing in major cities, and so on. The list of demands is endless because the target is large-to provide houses that they can afford to everyone in the budget and still not compromise on the facilities or the buyers’ deadlines.

Uddhav Poddar, MD, Bhumika Group, says, “We expect the Government to allow for the availing of Input Tax Credit of GST charged on construction of rented property and utilize the same towards the payment of GST on the lease rentals. We also want the government to focus on infrastructure development of tier 2 and 3 cities and make these cities ready for the next round of urbanisation. We also expect the long-awaited industry status to the real estate sector as after agriculture, construction is the biggest job generator, and employs the largest number of workers. We expect Stamp Duty to be subsumed into GST to incentivize home buyers and the overall property market sentiments. Lastly, the Government must intervene and resolve the NBFC and banking crisis, and make credit available for the real estate sector and specifically construction finance.”

To ensure stable economic growth, the FM will be under pressure to tackle all facets of life. We hope that, by growing their disposable incomes, the Budget can allow people to have more purchasing power. Abhishek Bansal, Executive Director, Pacific Group of Malls, says, “The retail segment is looking at measures that could ease out the tax burden on people. Retail activity is one of the crucial aspects of the economy, and the segment would be eagerly waiting to hear about sops that could help it overcome the challenging times of the pandemic.”

The need is to improve economic growth after the pandemic, which will happen if the economic growth vehicles, the commercial sector, get all the support needed to complete the projects as quickly as possible. Ashish Bhutani, MD, Bhutani Group, says, “We expect the Government to come out with steps to address the liquidity issue, and fund allocation for infrastructure in the metro peripheral areas. The help would entail measures such as bringing the real estate sector in the banks’ priority lending list and extending industry status to the whole sector. We hope that the FM will make this Budget count as one-of-its-kind Budget that can bring about the intended economic growth.”

Reforms in the Union Budget 2021-22 are highly awaited, and the sector expects the government to work out policies to fix the liquidity issue, leading to delays in the completion and execution of the programme. “Model Tenancy Law recently passed by UP Govt. has been a great step to bring in professionalism in the sector. More such prudent measures like granting industry status to the sector will help in bringing commercial and residential realty in the banks’ priority lending list. We are hoping FM will review the year gone by, challenges it has presented and the scope of development coming year can offer while presenting this budget. One of the key demands from this budget will be to help the middle income group have more buying power by increasing their disposable incomes. The retail segment is looking at changes that could ease out the tax burden on people,” says Sagar Saxena, Project Head, Spectrum Metro.

Business World

Raheja Developers launches one of its kind farmlands project

Oct 28, 2020 by Gouri Achary 0 Comments #farmlands project, #Mr. Achal Raina, #Raheja Developers, #Riyasat Hills Farmlands

With the current Covid-19 pandemic situation, the long wait for the vaccination, and the increase in the number of positive cases every day even our day to day supplies of farm produce carry a high risk of transporting the virus. The need for healthy living is gaining importance as never before. In its bid to provide people with the option of consuming organic produce and eating healthy, leading realty major- Raheja Developers has come up with ready for delivery developed farms “Riyasat Hills Farmlands”, which would help customers in meeting most of their daily needs of fresh and green vegetables/fruits/pulses as well as poultry, fish, milk, etc. The Farmlands is spread over 100 acres and is in one of the highest capital appreciation zones of Gurugram near Sector 95B.

Despite being one of its kind projects, Raheja Developers has priced it very competitively, and one can take possession immediately after the execution of freehold Sales Deed in his/her favour. The company is offering Farmlands in the sizes of 1-acre and above, which will provide infinite opportunities to buyers. The farmlands could be used for Organic Farming, Dairy Farming / Poultry Farming, maintaining Plant Nursery and practising Apiculture, Horticulture, etc.

Knowing it fully well that cultivation is not something that everyone can do, Raheja Developers have planned to rope-in specialized agencies for the same. “To take care of farming and allied activities, the services of cultivation and managing the harvest would be done by a specialized outsourced agency as per buyer’s individual needs. The agency would also help to farm on a larger scale, and further help to sell the produce in the market to generate good income,” said Mr. Achal Raina, COO, Raheja Developers.

The biggest advantage that ‘Riyasat Hills Farmlands’ offers is that it is well-connected with various parts of Gurugram and Delhi, but yet away from the hustle and bustle of the city. The site has connectivity from the New Delhi-Jaipur Super Expressway, just a few minutes’ for Delhi and Gurugram’s elite residential areas.

To its North lies Sultanpur Bird Sanctuary; West -Kundli Manesar Palwal (KMP) Expressway; to its South is New Delhi and the Residential Sectors of 80 to 90s – Gurugram; while Dwarka Expressway on the East to these farmlands. Presently, the access to ‘Riyasat Hills Farmlands’ is from Pataudi Road, Prithviraj Chauhan Crossing, with further access from the 60-meter Sector Road originating from Dwarka Expressway near Sector- 88A Gurugram, soon.