Realtors postpone launching of new projects due to elections
The realty developers in city have postponed the launching of new projects as the consumers are expand with upcoming polls in the state and are waiting for the development of new government.
Mr. Sanjay Kumar Jha, secretary of Real Estate Developers Association of Odisha, says that developers are not taking risk of launching new projects. They were postponed the launched the launch of their project by two months and will introduce the new project after the formation of new government.
Real estate developers say that the launching of nearly 4 to 5 new projects sanctioned by the Bhubaneswar Development Authority (BDA) has postponed till the competition of polls.
Reda secretary says that the developers will introduce the small projects. The developers are hoping of change in the tax structure with the formation of new government.
Mr. D S Tripathy, joint secretary, Confederation of Real Estate Developers‘ Associations of India, says that there is chance that market will improve after the completion of polls. He further says that there may be change in the tax structure after the formation of new government and new project will be launched as per the change in tax structure.
Source: Business Standard
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