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| Anuj Puri, Chairman, Jones Lang LaSalle India |
- Mr. Anuj Puri, Chairman, Jones Lang LaSalle India
If the current economic conditions have proved nothing else, they certainly prove that investment in Indian residential real estate is impossible to write off, ignore or find an alternative to.
While the world buckles under seemingly unsustainable pressures & chinks develop in several property markets, Indian residential real estate presents a bruised, battered but largely resilient front.
Why is this so?
In every second advice column & market analysis we come across, investment gurus disparage the Indian residential real estate sector. Housing prices in the metros are astronomical and beyond the common man's affordability, they say.
Indian developers/promoters should have read the writing on the wall, and now they're facing the day of reckoning, they say.
A price correction is just around the corner, they say. Rising housing loan interest rates have put further pressure on housing affordability and it simply does not make sense to avail of one anymore, they say.
There are, of course, fundamental reasons for the unrelenting popularity of investing in one's own home in India. One cannot live in a gold bar.
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