Anuj Puri, Chairman – ANAROCK Property Consultants
- A new Government with a clear majority raised optimism in 2014
- Nearly 5.45 lakh units launched in the year and nearly 3.43 lakh units sold – the previous year saw the launch of approx. 4.6 lakh units and lower sales
- Long-term benefits of recent reforms will accrue only with the continuity of their enforcement by this or the next Government
During an impending general election, real estate stakeholders conjecture about their likely impact on the real estate market.
Conventionally, the period between the announcement of the election date until the final result day is a period marked by caution and hesitancy in the overall real estate market.
While investors generally refrain from making market plays in this waiting period, buyers may also adopt a wait-and-watch stance.
The reasons can vary from anticipation that a newly-elected Government may offer more sops to homebuyers to the hope that a re-elected Government may reward voters with such sops.
In this period, developers understandably prefer to focus on selling their unsold stock rather than launching new projects.