Modi’s Win is Set to Revive the Property Market
After Modi’s sweeping election victory, real estate experts predict a revival of the property market.
A stable government at the center will improve investor sentiment and increase the demand for both housing and office spaces, as the aspect of pleasing the coalition partners disappears.
Expectations are high after Modi’s win, mostly owing to his past experience with very good development and governance in Gujarat, said CREDAI chairman Lalit Jain. He added that the sentiment will improve immediately and revive the property market. The sector expects an efficient approval process and easier bank funding, which are the two major concerns for the industry, said Jain.
Anshuman Magazine, CBRE South Asia Chairman and MD, said that, for any significant impact on the real estate sector, infrastructure projects will have to be cleared and implemented with urgency, housing interest rates will have to decrease, and economic fundamentals have to be tackled.
Anuj Puri, JLL India Chairman and Country Head, said the new government may focus on faster approvals, quicker land acquisition, availability of easy and low cost funding, and better infrastructure in order to boost affordable housing.
Source: NDTV Profit
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