Property And Polls – What Is The Connection?

By Ramesh Nair, COO – Business, JLL India

Ramesh NairWhile all eyes are on the general elections, the real estate sector is holding its breath for the potential optimism that is expected once the results are out. This optimism is expected to boost transactions and lift homebuyer sentiment.

There is no doubt that the actions and inactions ascribable to the current government have made homebuyers and developers anxious. The next government’s economic and employment policies will be key drivers to growth in the real estate sector for the next five years. 2012 and 2013 were not the best years for the Indian realty market, and the slowdown impacted all asset classes, except in a few pockets. Revival is no doubt the need of the hour.

There is a sense of hope among developers for a positive post-poll scenario. Will things start looking up for the sector after the general elections? Will clarity on the new government lead to businesses investing? So far, none of the campaigns have outlined a comprehensive proposal for recovery of the real estate market – specifically in terms of providing more housing and managing interest rates.

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