EXPECTATIONS FROM THE NEW GOVERNMENT BY REAL ESTATE
Our nation is standing on the verge of formation of a new government. A lot has happened over the last five years, the plan for the next set begins. Indian economy is being going through a very sluggish phase and now requires a good democratic leadership. Every sector or industry expects something from the new government. Real estate being one of the most demanding and growing sector; has something to request from the new government.
Mr. Ashok Gupta, CMD, Ajnara India Ltd.
As the polling season approaches to an end, every citizen of the country is pinning hopes with it. Real estate sector too expects that the state of affairs will alter for the betterment of the society. The most important thing that is to be kept in mind is, when a new government is formed how quickly it will manage to clear the pending bills. The land acquisition and real estate bills are standing on the verge of a decision; the greatest news for the sector and buyers would be when these bills get passed by the new government. Also, formation of good policies will make sure that a systematic approach is being followed in every business thereby reducing the teething troubles and increasing the performance output.
Mr. Prashant Tiwari, CMD, Prateek Group
It is pretty much clear that for quite some time now the real estate sector has been going under a slowdown due to unstable economy, rising inflation and price stagnation. After the election season is completed, investors will be keen to resume their investments. Highlighting feature would be the flow of income from foreign nations. Most of the nations wait during the polling season in a country in order to see how the new political and economic environment shapes up and hence it becomes very essential that the newly formed government must act in favour of this sector so that the future economic stability is controlled. At the same time, the new government must take strong decisions to form certain policies and norms to attract greater FDI which will not only promote this sector, but the economy in general.
Mr. Kushagr Ansal, Director, Ansal Housing
Every business, no matter its nature and the political scenario of a country has an interdependent relation and hence the general elections are the biggest matter of concern. For many years now, India’s economic and political condition has been quite unstable which has eventually affected every industry and business. Therefore, the first and foremost expectation from the newly formed government would be, to be stable and have a long term practical plan of action in place. Secondly, the government must look in to reducing the pressure on the existing lands by introducing new land parcels. The existing land rates are pretty high; the burden of which finally falls at the customers with an increased flat cost. Therefore, decreasing the land rates is something more that we would be expecting from the new government.
Mr. Deepak Kapoor, Director, Gulshan Homz
The last year we witnessed a major setback in the sector as the demand for property had gone far below the expectations. The investors had been in and out of the market most of the times. As far as the market condition is concerned, it will definitely recover after the polling season is complete and a new government is formed. One of the most prominent issues addressed by all the parties this season was the Right to Homes. But this can only be fulfilled if several other factors such as EWS, curbing the inflation rate, decreasing the housing loans, etc. are worked upon. All these factors, if taken care of properly will not only raise the demand for housing but will also allow the weaker section of the society to buy their first homes.