Buy or rent a house? Niranjan Hiranandani shares his take on India’s housing market: ‘Home will never become obsolete’
The question of whether it is better to buy a home or continue renting remains a major financial decision for many Indians. While renting offers flexibility and can reduce the immediate financial burden of home ownership, buying a house is often viewed as a long-term investment.
Real estate developer and Hiranandani Group founder Niranjan Hiranandani has shared his perspective on the debate in the latest episode of Figuring Out with podcaster Raj Shamani.
During the conversation, Hiranandani spoke about home ownership, capital creation and the importance of construction quality, while making a strong case for buying a house.
Asked whether people should rent or buy a home, Hiranandani said: “My recommendation to every person is that you must buy your house, even if it is small.”
He explained that, in his view, owning a home provides an opportunity to build capital over time.
“That capital creation, you can never create in any other business,” he said.
‘Home will never become obsolete’
Hiranandani also argued that housing would continue to remain relevant because a home serves a fundamental need.
“Home will never become obsolete,” he said.
“A home is a home, it’s a need. So this industry will never die.”
He further compared housing with other essential sectors, saying people who understand their businesses in areas such as food and clothing can continue to find demand.
“You can be rest assured that if you are in the food business, if you are in the clothing business or you are in this and you understand the ropes of that business, you can never lose out.”
Hiranandani on quality in real estate
The conversation also touched upon the price sensitivity of Indian consumers and whether buyers prioritise affordability over quality.
When asked, “Don’t you feel that Indian consumers are very price sensitive?”, Hiranandani responded by emphasising the importance of construction standards.
“Quality is an essential minimum need,” he said.
He went on to make a strong statement about builders delivering poor-quality housing.
“In fact, anybody who makes a bad quality building should be hanged,” Hiranandani said.
His comments came during a wider discussion on the housing sector and the factors that matter when constructing and buying homes.
Who is Niranjan Hiranandani?
Niranjan Hiranandani is a prominent Indian real estate developer and the founder of the Hiranandani Group. He is particularly known for his role in the development of Mumbai’s suburbs, including Powai, which has evolved into an upscale residential and commercial community.
The latest Figuring Out episode features Hiranandani discussing the real estate sector and home ownership, including the question of whether buying a property remains the better choice for individuals.
