This is a subject of huge analysis for the investors in Real Estate Projects and the Real Estate industry and business. This general election has been very recently concluded and it is indeed too early to project the impacts of this general election on the residential real estate market in India. But it can be relatively safe to make a claim that the future of residential real estate market in this country will be better, as the same Government has been re-elected with a huge majority this term also and this Government will further extend its favorable economic policies for strengthening every industrial and commercial sectors activity in India. We can surely expect that the residential real estate market will see a brighter future now and in time to come.
The Real Estate projects, including the residential real estate market, has experienced certain enacted legal reforms, such as RERA. This RERA has made the residential real estate market safe for the home buyers, who invest their whole life’s savings in purchasing a house or has to take a bank loan for that purpose. RERA has removed the previous uncertainty, which always haunted a residential real project buyer, in safely completing the sales transaction and possession of his home, from the builder or the developer.
The previous election in the year 2014 made everyone experience a wavy, peak and trough real estate market. It was due to new economic and other policies made by the newly elected government in the center, which was then practically a new government. There were the effects of demonetization, which crippled the cash transactions, mainly observed and dominating the residential real estate market. But this year, the situation is different. The same government with the existing policies has been repeated and no one expects any troughs any more in the residential real estate market. This government fully understands the commerce of the country and will surely adopt policies, which will be profitable for the residential real estate market in India.
This Government of India has very ambitious projects for building residential houses for everyone in the country. This project is under the process of being built since the last government and has been materialized to a considerable extent. This project has consumed and is in the process of consuming a very large area of residential land and this happens to be a very positive development for the residential real estate market. The government has made the bank home loan availing procedure easier for even the Economically Weaker Section of people so that they can build their own home easily. This accessibility to finance has made the purchasing capacity of every person stronger, for making his own residential house easily. All these have turned the future of residential real estate market towards a huge success.
The residential real estates in India, the best real estate investments in Delhi and in other metros are to see an upward growth very soon. Repetition of the previously existing Government is promising an all-round growth in every industrial, economic and commercial sectors in India and the residential real estate market is no exception.