Niranjan Hiranandani Shares Why Affordable Housing Stagnates and Which Cities Are Set to Rise

In a recent interview with Business Today’s Riddhima Bhatnagar, Niranjan Hiranandani, Chairman and Managing Director of Hiranandani Group, offered his insights into the evolving landscape of Indian real estate. Speaking on key industry shifts, he shared his views on why affordable housing continues to lag, the cities poised for a boom, and what the future holds for homebuyers and developers alike.

Affordable Housing: Still Out of Reach

Hiranandani noted that despite ongoing discussions and initiatives, affordable housing hasn’t taken off at the pace the industry expected. He attributed this stagnation to several critical gaps—primarily land availability, high input costs, and regulatory hurdles. He emphasized that unless land is made available at concessional rates and supported by infrastructure, the affordable housing dream will remain largely unrealized.

Policy Support & Government Role

According to him, a more aggressive policy framework is needed to revitalize the sector. He suggested that the government could play a catalytic role by easing land acquisition norms, reducing approval timelines, and incentivizing developers who focus on affordable housing. Hiranandani also called for financial models that support both demand-side subsidies and supply-side cost efficiencies.

RERA’s Impact: A Turning Point

He acknowledged the transformative role of the Real Estate (Regulation and Development) Act, or RERA. In his view, RERA has brought a much-needed layer of transparency and accountability to the real estate business. While it initially slowed down the market due to compliance adjustments, it has now positioned the sector on firmer and more trustworthy ground, especially for buyers.

Timing the Market: When Should One Buy?

On the question of timing property purchases, Hiranandani remarked that the best time to buy a house is always “yesterday.” He advised young homebuyers not to overanalyze market cycles. Instead, he encouraged them to buy when they feel personally and financially ready, noting that long-term real estate appreciation tends to reward ownership.

Emerging Real Estate Hotspots

Hiranandani identified several upcoming urban centers where real estate demand is expected to surge. These include cities benefiting from new infrastructure projects, industrial corridors, and tech hubs. He highlighted locations such as Ahmedabad, Pune, Hyderabad, and Tier 2 cities like Indore and Coimbatore as being ripe for growth, driven by job creation and urban expansion.

A Word to the Young Generation

Concluding the conversation, he offered life advice to young people: focus on long-term value, keep learning, and don’t be afraid to invest in real assets. He stressed that property ownership continues to be one of the most reliable paths to wealth creation in India, provided one approaches it with patience and informed decision-making.

Disclaimer: This article is a rewritten version of a media interview for informative purposes. It reflects views expressed by the interviewee and does not constitute investment advice. Readers are advised to perform their own due diligence before making property or financial decisions.