The real estate sector has growth friendly expectations from the new government
Due to the BJP’s manifesto of ‘’Housing for all by 2022’’, the real estate sector is expecting to see a boom. After the Narendra Modi led NDA government took charge, the real estate sector is picking up. The industry experts are expecting that investing in a property is likely to once again become the most popular investment option as it was a decade back. There will be significant appreciation in real estate prices as it is expected that there will be higher demand in the coming years.
The developers are looking at easing policy regulations and clearing bottlenecks which slow down the realty projects. Santosh Kumar, the CEO (operations) of Jones Lang LaSalle (JLL) India mentioned that the new policies will also help in providing relief to buyers who have already invested. It will speed up the construction process and will help the developers tremendously.
Issues like affordability of real estate, delay in construction of projects, delays due to litigations surrounding real estate projects, which impacted developers as well as consumers had reduced the demand in the real estate sector during the regime of UPA government. Also the previous government did not do anything to bring down the home loan rates.
Anshuman Magazine, the MD of CBRE (South Asia), also said that since the BJP government is elected with a full majority the new government hopefully will be able to sustain a stable regime at the Centre. This will definitely have a positive impact on the real estate sector.
The real estate industry expects an investor and reform-friendly government that will open its doors to the global as well as the domestic investment opportunities.
Source- The Times of India
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