Pradeep Jain of Parsvnath Developers believes their company will not be affected by the RBI's move of restricting banks to pay home loans with 80:20 scheme.
Property prices keep increasing on the back of hike in input costs, but that does not affect sales, says Pradeep Jain, Chairman, Parsvnath Developers.
Recently, Delhi-based Parsvnath unveiled a new scheme called the ‘The 25:75 House of Happiness‘. Parsvnath‘s scheme is for 16 residential and four commercial projects in several cities including Delhi, Greater Noida, Ghaziabad, Sonepat, Panchkula and Moradabad.
The Real Estate Bill will prevent unorganised developers from entering the sector, says Pradeep Jain of Parsvnath Developers.
Parsvnath Developers launched a ‘25:75 House of Happiness‘ . In this the consumer needs to pay 25 percent now and 75 percent at the time of possession.
Real estate major Parsvnath Developers is looking to reduce the debt by selling some of the land parcels it holds across India. The net debt currently stands at Rs 1,250 crore and it aims to complete the deleveraging of its balance sheet in the span of 15 months.
News of promoters offloading their pledged shares in the market is only market gossip, says chairman of the company, Pradeep Jain to CNBC-TV18.
With RBI's decision today, all the loans are set to become costlier. The car and home loans and the EMIs will also be impacted with this move. Pradeep Jain, chairman of Parsvnath Developers told CNBC-TV18 that the demand for home loans would not be sluggish.
Pradeep Jain, Parsvanath Developers speaking to CNBC-TV18 about RBI's move of hiking key lending rates by 50bps each said, this was quite unexpected and would lead to an increase in cost of funds for the real estate developer.
In an interview with CNBC-TV18, Pradeep Jain, chairman of Parsvnath Developers said that company is in talking with couple of private equity (PE) investors for selling stake in Sonepat project.
Parsvnath Developers, has inked an Rs 100 crore agreement with SUN-Apollo India Real Estate Fund LLC, an international real estate private equity fund for an investment in its premium residential project at Ghaziabad, Uttar Pradesh.