Housing Market Surge: CREDAI Predicts Continued Growth Amid Tax Incentives and Rate Cuts

Boman Irani, CREDAI President, forecasts sustained growth in India's housing market due to Budget tax incentives and a repo rate cut. Despite minor market fluctuations, long-term demand remains strong. CREDAI focuses on fast project execution and green initiatives, planning to enhance 1,000 government schools with smart classrooms.

Boman Irani, President of CREDAI, predicts the Indian housing market will continue to grow robustly, driven by recent Budget tax incentives and a reduction in the repo rate. Speaking in Nashik during CREDAI's two-day conference, Irani asserted that, despite perceived market overheating, long-term demand for housing remains strong across India.

Irani dismissed concerns of any significant demand slowdown, citing consistent property registration data in Mumbai as evidence of ongoing interest. He highlighted government efforts to bolster infrastructure, which he believes will spur new business opportunities throughout the real estate sector.

CREDAI is pushing for quicker project turnovers by adopting advanced technologies, while also promoting green real estate and playing an active role in corporate social responsibility. They plan to upgrade 1,000 schools with smart classrooms to celebrate their 25th anniversary.

(With inputs from agencies.)