India’s economic growth is promoting rapid expansion in the real estate sector. The residential market is growing at a rate of 25.6 percent every year, which is expected to reach $ 1.04 trillion by 2029. However, expensive home loans can become a big obstacle in this growth. About 90 percent of the respondents in the ‘Home Buyer Perception Survey’ survey of FICCI and Anarock say that their desire to buy a house can be affected if the home loan is more than 9 percent. The survey claims that more than 71 percent of people believe that if the interest rate is less than 8.5 percent, then the decision to buy will not be affected. 54 percent said that if the interest rate is between 8.5 percent and 9 percent, they will have to consider their choice.
98% want the project to be completed on time
The priority of about 98 percent of home buyers is the completion of projects on time. 93 per cent people want better construction quality, while 72 per cent of the respondents want to buy well-ventilated houses.
