By, Anuj Puri, Chairman – ANAROCK Property Consultants
Nearly 5.45 lakh units launched in the year and nearly 3.43 lakh units sold – previous year saw 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 any impending general elections, real estate stakeholders conjecture exhaustively about the likely impact on the real estate market. Conventionally, the period between the announcement of the election date till 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. The time leading up to general elections is decidedly favourable for homebuyers as they can do some hard bargaining with developers who need to sell units for more liquidity.
Overall, it is a period when all stakeholders wait with bated breath for the final outcome.