Government focus on infra-development to revive the Indian realty

Given the looming polls in the country, the election manifestos of the major national parties have laid down numerous initiatives in the infrastructure sector, in a bid to give the right fillip to the real estate activity in the nation. As per the real estate body CREDAI, the new government which will hold the strings of growth in the country, will need to lay emphasis on the proposed infrastructure projects in the budget, in a move to rev up the process of houses and apartments for sale, listed on the developer’s sheet.

Introducing

The Karnataka government, which has been gearing for an upswing for quite a some time now, has come up with plans to revive the infra-projects such as the high-speed rail network and an international convention center near Kempegowda International Airport near Devanahalli. Such projects are expected to give the right nudge and aid the developers list a number of apartments for sale.

Experts are of the notion that with the right support from the government, GDP growth in the county will climb up. The proposed high speed rail connectivity in Karnataka will decongest a number of important towns and cities. Connecting Bangalore-Kolar, Bangalore Mysore and Bangalore Hubli are some of the crucial towns, which will re-define connectivity once the project of high speed rail connectivity sees the light of the day. With numerous apartments for sale in the city, developers in Bangalore will make the most of infrastructure initiatives by the government.

How things will change for the realty sector

In the last four years, roughly from the trough of Q2-2009 up to Q3-2013, taking into consideration the period of economic slowdown, rates for apartments have shot up by 50% on an average throughout the country. Hard up housing demand clearly quotes the fact that builders and realtors will have to sit on huge unsold stocks and put on hold new supply, as reflected in the 12% decline in the number of new launches in 2013.

As a breath of relief, the government of India has set a 5-year target of introducing USD 1 trillion in infrastructure by the end of 2017, of which Bangalore takes the big cake. As per industry experts, continued growth driven strategies together with due support and attention from the government will help the economy withstand any kind of market condition and play a major role in taking the Indian economy to its heights.