The resurgence of positive economic sentiment, combined with an inflow of liquidity from an upswing in equity markets, has rekindled consumer confidence in real estate.
Developer Vijay Wadhwa emphasizes the importance of real estate investment for parents planning for their children's future. He remarked, “Real estate is the best long-term investment. It remains in your child’s name, and the appreciation in value over the years makes it a safe and secure option. Or even while planning for your old age, real estate is always an asset.”
In light of the current market dynamics, Wadhwa observes an upward trend in market sentiments, asserting that real estate is among the primary beneficiaries. He noted, “After witnessing slow movement over the past few months, Mumbai is seeing an increase in demand in the residential sector. Additionally, increasing focus on affordable housing for low and middle-income groups has resulted in the launch of several low-cost projects, most of which are concentrated in the peripheries of Mumbai. This has also opened up new investment opportunities for individuals who may not have substantial amounts to invest.”
Further insights come from Narpat Mehta, director of Kanakia Group, who states, “Softening of home loan interest rates and correction in capital values by some developers has resulted in the anticipation of increased demand during the festive season. We are expecting an increase in demand from both end users as well as investors.”