“Overwhelming mandate to Prime Minister Narendra Modi, mid income housing to draw further focus and attention with ‘Housing for All’ being on national agenda,” said Murali Malayappan, Chairman and Managing Director, Shriram Properties.
“We look forward to a progressive government at the Centre to further developmental measures. The government is already appreciative of the contribution of the real estate sector to the country in terms of economic growth and providing employment,” he added.
With objective to gear up the economy further, the industry is confident that the re-elected government would further strive towards creating a conducive environment for business, commerce and industry.
Government with absolute majority to bring in further transformational changes for the overall good governance of the country. “The results are reflective of the public’s positive sentiment towards the policy changes and transformational reforms which the government had brought in the last five years,” he said.
Anuj Puri, Chairman – ANAROCK Property Consultants, said “In retrospect, Modi’s victory in 2014 ushered in a new era of Indian real estate, unambiguously marked by his vision to set the ‘house’ in order. He tightened the Centre’s grip on real estate – the favourite ‘laundromat’ for black money hoarders – and brought speculative activity to an all-time low even as big-bang schemes benefited genuine homebuyers and long-term investors.”
Modi’s government gave a decisive impetus to all-around infrastructure development, major policy overhauls such as DeMo, RERA and GST, amended old Acts like Insolvency & Bankruptcy Code and the Benami Transactions (Prohibition) Act, and envisioned schemes like 100 Smart Cities, Housing for All by 2022, Make in India, AMRUT Cities etc.
“Historically, no other government has done as much for the real estate sector. In just one tenure, Modi set the stage for Indian real estate to flourish in the long-term. However, the key term to note here is ‘long-term’ – all policy interventions were squarely focused on futuristic growth,” Puri said.