Quote by Xanadu Realty on reduction in stamp duty by Maharashtra government

 

Vikas Chaturvedi, CEO of Xanadu Realty

 

"Market revivals need triggers, and this may just be the one real estate industry was waiting for. After quite a few supply-side measures, this is a much needed demand-side boost, which will provide a huge respite to the first time homebuyers. The news comes as a cheer for the real estate industry and I believe it will have a three-dimensional impact. Firstly, by lifting the market sentiment across value chains, it will create an upbeat and buoyant atmosphere on the back of a growing economy with government support.

 

Secondly, the industry, which is ridden with a lot of unsold inventory, will witness a trigger in the form of multiple launches, re-introductions, and capex moves by developers. Since this is time-bound, and everyone would want to make the most of it, all this will happen in the next three months.

 

And finally, the news also comes at an opportune time as we know the festive season is around the corner. Diwali-buying frenzy on the back of a hyper-competitive, ‘spoil-customers-for-choice’ market would lead to broad-based demand generation due to a reduction in the cost of acquisition for consumers. At the end of the day, everyone’s realized that if the consumer wins, eventually, everybody including the exchequer, wins!

 

Of course Xanadu Realty is fully geared to maximise this opportunity to achieve maximum momentum for all our partners. With proprietary in-house teams such as Blue Pro (for luxury projects) and Scale X (for mass large scale projects) and unique blend of human tech interface and adoption of virtual simulative experiences to enable decision making we possess a diverse set of skill sets to create transformational value across the breadth and span of the real estate industry during this period of revival."