As the elections are coming just about a week ahead of Diwali, a time
for the biggest real estate launches, those tracking the sector say
there could be some changes and delays in new projects
Maharashtra and Haryana, the two states headed for legislative Assembly elections on October 15, have another thing in common. They are among the most prominent property markets and together are estimated to constitute 30-40 per cent of the pan-India real estate universe.
While the polls might not substantially impact the property prices in these states, these could slow down policy clearances and infrastructure projects critical to real estate, say analysts. Since the elections are coming just about a week ahead of Diwali, a time for the biggest real estate launches, those tracking the sector say there could be some changes and delays in new projects.
There's likely to be a short-term impact on real estate activity and approval processes because of these elections, says Anshuman Magazine, chairman (South Asia), CBRE, a global consultancy in the sector. "It is usual for project approvals to come to a standstill before elections." Even proposed policy decisions such as overhaul of the floor-space index in Haryana is likely to be delayed, he said. Infrastructure projects in the states could also be hit, affecting real estate.
Read More: http://www.business-standard.com/article/economy-policy/election-impact-may-hold-back-mumbai-gurgaon-realty-114091400789_1.html
Maharashtra and Haryana, the two states headed for legislative Assembly elections on October 15, have another thing in common. They are among the most prominent property markets and together are estimated to constitute 30-40 per cent of the pan-India real estate universe.
While the polls might not substantially impact the property prices in these states, these could slow down policy clearances and infrastructure projects critical to real estate, say analysts. Since the elections are coming just about a week ahead of Diwali, a time for the biggest real estate launches, those tracking the sector say there could be some changes and delays in new projects.
There's likely to be a short-term impact on real estate activity and approval processes because of these elections, says Anshuman Magazine, chairman (South Asia), CBRE, a global consultancy in the sector. "It is usual for project approvals to come to a standstill before elections." Even proposed policy decisions such as overhaul of the floor-space index in Haryana is likely to be delayed, he said. Infrastructure projects in the states could also be hit, affecting real estate.
Read More: http://www.business-standard.com/article/economy-policy/election-impact-may-hold-back-mumbai-gurgaon-realty-114091400789_1.html
I hope these delays will be for short period only otherwise it will not only impact the real estate sector but also the life of people associated with this sector.
ReplyDeletereal estate market is in pathetic state i don't know when it is going to rise most probably it is expected to rise after elections
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