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Will HOC 2021 Be Extended?

The Home Ownership Campaign (HOC) may be extended to the subsale housing market, said Ari Adam, Deputy Director of Inventory at the National Property Information Centre (NAPIC).


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Currently, the HOC is only limited to new launch properties sold by developers and is expected to end on 31st Dec, 2021.


The proposal to extend HOC to the secondary market will allow homeowners to sell their properties under the HOC banner too. This gives the vendors, whether developers or individual sellers, an equal opportunity to benefit from Stamp Duty and Tax Exemption. This will make a change in the overhang situation in the country.


“As I usually say, data speaks for itself. The question is: What do we do with overhang? Do we let prices come down? Perhaps if we had (implement this) for developers, there may be no overhang. Perhaps if developers consider what the people want or can afford,” Ari asked.


Pankaj Kumar, the Non-Executive Managing Director of Datametrics Research and Information Centre (DARE) is among the panelists at the 14th MPS to agree with the extension of HOC 2021 to the subsale housing market. He believes extending the campaign into 2022 is something that the government should consider as it may help to boost market sentiment.



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