Realty sector to be challenging and opportunistic in 2019: Hiranandani

Noting that the RERA has erased non-serious players in the industry, he said, this trend was expected to continue in 2019

Noted industrialist and realty developer House of Hiranandani, founder-director, Surendra Hiranandani said the new year will begin on a cautious note but would gain significant momentum as the country would face general elections besides focusing on credit growth in the new year.

On the way forward for the real estate sector in 2019, Hiranandani in a statement said, the new year will be both challenging and opportunistic as there would be focus on credit growth, improvement in infrastructure apart from the polls.

"While the parliamentary elections might not substantially impact property prices, they could slow down policy clearances and infrastructure projects critical to real estate," he said.

Noting that the RERA (Real Estate Regulation and Development Act) has erased non-serious players in the industry and only credible developers were driving the market, he said, this trend was expected to continue in 2019.

He said the affordable housing segment would continue to drive residential housing in metro and Tier II cities with preference for ready to move in units.

"The current scenario offers excellent investment opportunities in residential real estate which are bound to yield positive returns on the long run," he said.