Niranjan Hiranandani says Rate Cut for Real Estate Unlikely in the RBI Policy Review

Mumbai, Maharashtra, India

From a real estate perspective, the Reserve Bank of India (RBI) policy review on Tuesday, April 7 has the potential to be a key ‘trigger’, one that has the potential to create a positive sentiment in the real estate industry, said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL). “It is something that would gladden the hearts of all connected with real estate,” he added.

The RBI policy review on 7 April will be the first such event following the first full budget presented by Finance Minister Arun Jaitley.

Lower interest rates for project finance and home loans have the potential to be a key ‘trigger’ for real estate, everyone understands this, said Niranjan Hiranandani. “But, will it happen on the day RBI announces its first bimonthly monetary policy review of the current fiscal? My heart says the RBI Governor Raghuram Rajan should do so, but my mind doesn’t share the enthusiasm. On the eve of the review, one can say with certainty that the RBI Governor is well aware of the potential a rate cut would have, but he also has been keeping watch on data about containing inflation – and that is something that leads the mind to not be so enthusiastic about the probability of a rate cut on 7 April,” he added.

“India’s economy has seen two unscheduled rate cuts since January, which have brought the repo rate down from 8 per cent by 50 basis points to the existing 7.50. And, it happened after a gap of two years from the previous interest rate cut,” he added.

The RBI Governor, after the cut in January this year, had said: “The key to further easing are data that confirm continuing disinflationary pressures and sustained high quality fiscal consolidation.” This is where there is a slight hitch – statistical data shows that Consumer Price Index (CPI)-based inflation has risen to 5.37 per cent for February 2015, from 5.19 per cent in January and 4.28 per cent in December 2014. “Logically, It would suggest that any query on whether the RBI would bring in rate cuts on 7 April, which has the potential to create a positive sentiment for real estate, might not have a positive response,” said Niranjan Hiranandani.

India needs lower interest rates for high growth, and it rate cuts in the near future are expected, which in turn, will trigger a reduction in cost of borrowings. “Ideally, it should happen – but, on the eve of the policy review, although my heart says ‘think positive’, I will go by what my mind says – which is: it seems a bit unlikely that a rate cut should be expected on 7 April,” concluded Niranjan Hiranandani.

‘Elated at Hiranandani Group Winning Best Design for Community Living Award at the NDTV Property Awards’: Niranjan Hiranandani

At the second NDTV Property Awards, which was held at the Taj Lands End in Mumbai on 13th March, 2015, the Hiranandani Group bagged ‘Best Design for Community Living Award’ for its Powai and Thane Townships. Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL) accepted the award.


NDTV’s Manisha Natarajan, Senior Editor, Business and Real Estate along with Vasudha Sharma and Anjali Istwal, co-anchors of The Property Show, hosted the second edition of the NDTV Property Awards.

The awards honored and acknowledged excellence in Indian real estate and recognized real estate leaders whose persistent pursuit of excellence has fuelled India’s journey to the forefront of the world’s economy.

Commenting on winning the award, Niranjan Hiranandani said he was elated. “We have always stressed on building communities rather than just square feet of space. The townships we have built at Powai and Thane have been recognized by various organizations, this recognition at the second NDTV Property Awards to add yet another endorsement of the projects having come up the right way,” added the MD, HCPL.


Hiranandani Gardens Powai is a neo classical architectural marvel nestled amidst the verdant Powai Hill, strategically located opposite the serene Powai Lake, said Niranjan Hiranandani. “It is a place where more than 4000 families stay. Sprawled majestically over 250 acres, Hiranandani Gardens is Mumbai’s finest residential township that has redefined the standards of elegant living. Intelligently planned, crafted with precision and embellished with care, it fulfills the delicate dreams of many, giving rise to a new perception of life and life style,” he added.

Among the leading landmarks that re-defined Mumbai’s real estate, Hiranandani Gardens, Powai has just completed a milestone: it celebrated the completion of 25 years of the project. Panvel, Ahmadabad, Pune and Chennai are locations where the Hiranandani Group Companies will create more such integrated townships, added Niranjan Hiranandani.

“Similarly, when we created Hiranandani Meadows and Hiranandani Estate townships in Thane, these also were examples of leveraging futuristic technology, innovative design and precision engineering to create a world-class real estate complex. Along with Hiranandani Gardens, Powai, these are examples of a Green, mix-use township – while setting the ‘benchmark’ these have gone on to become landmarks,” he added. Following Hiranandani Gardens Powai, the focus on creation of green townships has helped the Hiranandani Group companies usher in an era highlighted by a higher standard of living and influenced by global trends, visible in the township projects in Thane, Niranjan Hiranandani pointed out.

Winning the ‘Best Design for Community Living Award’ at the NDTV Property Awards was a tribute to the concept of ‘spacious living’, said Niranjan Hiranandani. He pointed out that being ‘ISO 9001 – 2000 certified’ meant having a clear vision to go beyond just providing spaces to live. “The Hiranandani Group has created integrated townships and lifestyle patterns, and in effect, this has become the face of the new generation; indeed, these reflect the collective psyche of a vibrant India’s energy, drive and vitality,” he explains. “The Hiranandani mix-use townships, the ones complete as also under construction, speak the language of a new passion, of affluence and of happiness, that begins with an individual and culminates into the well-being of the residents,” said Niranjan Hiranandani.

“I am elated that the Hiranandani Group has won the ‘Best Design for Community Living Award’ at the second NDTV Property Awards,” concluded Niranjan Hiranandani.

HIRANANDANI LAKESIDE BANGALORE

House of Hiranandani HAS Launched yet another project in Bangalore . Hiranandani Lakeside is located in Bannerghatta Road.

Hiranandani Lakeside is one of the popular Residential Developments in Bannerghatta neighborhood or Bangalore. It is among the well known Projects of Hiranandani Builders. The landscape is beautiful with spacious Houses.

Hiranandani Lakeside is a residential project developed by House of Hiranandani. The project offers well designed 3BHK apartments at very affordable prices. The project is well connected by various modes of transportation. The site is in close proximity to various civic utilities.

HIRANANDANI EGATTUR CHENNAI

Hiranandani Egattur is one of the popular Residential Developments in Mahabalipuram neighborhood of Chennai. It is among the well known Projects of Hiranandani Builders. The landscape is beautiful with spacious Houses.

House of Hiranandani – Egattur is set in an extremely extraordinary location close to the sea on one of Chennai’s finest beaches. Constructed on a vast property and surrounded by lush vegetation, living here will be both an exquisite and urbane experience. The contemporary structural design takes your vision beyond your expectation, due to incorporating precision engineering, top notch amenities, and Greco – Roman architecture.
The township is strategically located on Old Mahabalipuram Road in Chennai, in the vicinity of esteemed IT campuses, Shopping centres, hospitals, prestigious international schools and colleges; the property is easily accessible by road and rail. The integrated township offers you a spacious apartment in a vibrant community that overlooks the Chennai backwaters and the Bay of Bengatransform the skyline of Chennai.