Post-Poll Industry Perspective

Torbit - June 08, 2024 - - 0 |

G Hari Babu, National President, NAREDCO

Post-poll, we expect the new government to support the growth and sustainability of the real estate sector through specific policy reforms, addressing the challenges faced by developers and property buyers. The prominent  among these is policy initiatives /incentives to boost affordable housing by way of increasing the price cap of affordable homes , lowering home loan rates and providing tax breaks for affordable housing developers.  There’s a need for financial incentives for green buildings, subsidies for using eco-friendly building materials and policies to promote energy efficient practices.

Anuj Puri, Chairman, Anarock

During the last two terms of the Modi government, real estate benefited from policy stability and structural reforms. The return of the Modi government will assure predictability of ongoing policies for the real estate sector to unleash its potential. One should expect targeted action on mid-segment  housing which will drive the overall housing sector. The government’s increased focus on manufacturing should see further support for growth of the logistics and warehousing sector.

Amit Goel, MD, India Sotheby’s International Realty

The return of the Modi government positively impacts the economy and in turn the real estate sector. Political stability will enhance the confidence of both consumers and investors. Now that we will have policy stability and continuous focus on infrastructure development, demand for homes is inevitably going to remain strong. The NDA government under PM Modi needs to undertake reforms to lessen the burden of GST on under-construction homes and increase tax breaks on home loans to encourage wider home ownership.

Badal Yagnik, CEO, Colliers India 

During the last decade of the Modi government , implementation of RERA, GST, national policies  pertaining to logistics and data centres and overall infrastructure push in the form of National Infrastructure Pipeline and Gati Shakti National Master Plan have instilled a sense of confidence amongst various real estate stakeholders. With the continuation of the Modi government, a progressive and an economically viable vision is inevitable for the real estate sector to become a USD 1 trillion market  by 2030, contributing 13-15 percent share to the GDP.

Shrinivas Rao, CEO Vestian

Following  the reinstallation of the Modi government, real estate market sentiments are positive with the BSE Realty Index topping 8400, the highest level since 2008. The new government is expected to have an uninterrupted focus on affordable housing and infrastructure development and reforms like granting industry status to the realty sector to ease availability of funds and increase participation of foreign investors ,will further boost the real estate sector.

Aryaman Vir, CEO, WiseX

The real estate sector will continue to see a steady growth in new project launches , particularly in commercial real estate. The recent increase in office space leasing for GCCs underscores the growing demand for commercial spaces in the stable Indian market. Policies promoting infrastructure development and ease of business  may well lead to increased demand for commercial realty and boosting investors’ confidence.

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