market may witness more innovation in products. “The market is going to change. While developers were offering benefits to consumers through this scheme, they will now have to come with some other means to reward the consumer or will have to reduce the prices,” said the CEO of the HFC. “The scheme had become widespread in the recent past as developers looked to attract investors though this. The move will dampen the spirits,” said Pranab Datta, VC and MD, Knight Frank India.
“DLF does not make its sales forecasts based on subvention scheme, and therefore, it will have negligible impact on us. The linking of the scheme with the construction stages could impact those developers who are heavily dependent on the lump sum disbursals,” a company spokesperson said.
*Experts say RBI’s move may dampen the real estate market
*This is likely to change developers approach and the market may witness innovation in products