Impact on Real Estate in India: Cushman and Wakefield Report
The recently concluded national elections marked the rise of BJP as the single largest coalition party. Narendra Modi will soon be sworn in as the 15th prime minister of India. With this major political development, Cushman and Wakefield expects major politico-economic conditions of India, with a significant impact on real estate.
Executive Managing Director of Cushman & Wakefield, South Asia, Sanjay Dutt says the coming of a majority government will lead to large investments in various businesses and sectors of the economy, thereby creating a more enhanced demand for real estate assets.
The sentiments of the investor community are also set to lift, with a stable government at the centre. This will have a strong impact on office sales and housing. It’s expected that both end-users and investors will start investing more in the sector and contribute to the sector’s growth.
Now that the BJP-led government is at the centre, the focus is expected to move to expanding and developing infrastructure such as ports, railways, roads, highways, canals, dams, and manufacturing hubs. The foundation for the development of hundred new urban centres, which will serve as twin cities or satellite towns, will also be laid soon.
Foreign investors and businesses looking to invest in India would like the government to implement the necessary legislation on regulating real estate and introducing REITs, which will curb corrupt practices and introduce transparency.
Source: IndiaInfoline (IIFL)
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