Reveals a survey by IndiaProperty.com
Tambaram and Porur emerge hotspots for property seekers
Chennai, 4th July, 2014: With the new government at the centre, sentiments across sectors seem to be positive and real estate rides the wave and expects that the first budget from the NaMo Government to favor the property seekers with reduction in home loan rates and a real estate regulator, besides the boost in the infrastructure.
IndiaProperty.com recently conducted a survey that captured the sentiments and expectations of individual property seekers across key cities and there was a uniform pattern of positive sentiments and expectations from the Government. Property seekers across India feel the time is ripe for real estate investment, 79% of the people surveyed prefer long term investment in the real estate, and 38% feel that the property prices will go up in the next 2 years.
While apartments top the chart of the buyers (40% said they will invest in apartments), Mumbai still rules as the top city for property followed by Bangalore, Chennai, Pune, Kolkata, Delhi-NCR and Hyderabad.
Ganesh Vasudevan, CEO IndiaProperty.com agrees and says, “For the real estate industry, priority areas will be infrastructure, reviving property buyer’s sentiments and affordable housing. The long pending task of bringing in a regulatory body would be once such positive step. With increasing home loan interest rates it makes sense to increase the limit of tax rebate given on home loan interest. One can expect allocation of funds for development of affordable housing and development of highways.”