Nevertheless, the desire to own a house remains one of the most important economic objectives for Indians, but the challenges posed by high interest rates and changing affordability require careful planning. In 2024, potential buyers will have to tread carefully as they try to fit themselves into India’s heterogeneous and multilayered real estate market. Practitioners recommend obtaining information about the markets and areas that are within one’s financial reach before making demand and supply expectations, considering how much one can actually afford in terms of size and comfort.
It helps if you are also watching the RBI rates and other related policy changes—for instance, RERA or GST, which could facilitate getting the right time to buy the property. In addition, the builder-banker alliance benefits the customers by way of offering lowered EMIs and waiving off processing fees, which adds to the affordability. Anurag Goel, Director at Goel Ganga Developments, notes how all these developments make it easier for people to own a house.
With the right techniques, patience, tolerating change, and proper financing, Indian homebuyers can actually achieve their dreams in the midst of shifting market conditions.
