Housing boom will reach smaller cities
In the next five years, the housing boom will reach the smaller urban centres to target new segments of customers, says realty finance expert and author Sitaraman. “The real estate sector will go to the tier 4, 5, 6, 7 cities – the small towns – in the next five years. The industry intends to target government servants, small businessmen and small companies in the small towns. The big cities are bursting at the seams,” Sitaraman told media.
“Let us consider the stretch along the Delhi-Jaipur road. People will soon move to places like Rewari and Maneswar to look for a home priced Rs.30 lakh to Rs.40 lakh or even less than that. They can come to Gurgaon for business and shopping. The future will see more satellite townships as big cities expand where salaried and the educated middle class will own homes,” said the writer, who has spent 20 years in real estate finance. He has penned the new business thriller, “The Whistleblowers: Of Doing What is Right“. The book, a humorous work set in the big-ticket world of real estate financing, was released in the capital Monday.
“The complaint in India is that homes are not affordable. The trend will catch up: the homes will be far away from the city. But with growing connectivity, distances will cease to matter,” said Sitaraman, who owns a management consultancy firm specialising in realty finance.
Commenting on the changing pattern of real estate loans, he said: “As of now, the salaried class was getting more loans than businessmen.”
“But the trend is changing. Lenders are now more open to consider businessmen for loans because businesses have stabilised after 2000,” he said.
Affordable Housing, Delhi NCR, Delhi Property, Delhi-Jaipur road, Gurgaon, Housing boom, Maneswar, Realty News, Rewari
