Rent trends will largely mirror the demand curve: Niranjan Hiranandani

In a Q&A, the chairman of Hiranandani Communities explains that the pandemic has prompted the millennial to move from being a renter of residential property to an owner

Residential sales have made a comeback in Q3 of the current calendar year due to pent-up demand from homebuyers. The demand for large, premium properties has also shot up. Niranjan Hiranandani, chairman of Hiranandani Communities, a leading property development company, talks to Raghavendra Kamath on his outlook for both segments of real estate and road ahead for the property sector. Excerpts:

What is your take on pent-up demand for residential properties? Will it last long?

According to me, pent-up demand will sustain, as shelter is a basic necessity and crucial need of human existence.  The pent-up demand as we move